If $6k support broken , I'll even call it bearish . The previous momentum of comeback to $7k are a real bullish for me personally but due unforeseen reasons it's turned around until we are on the deeper line now since yesterday night.
Yeah, I was taken by surprise a bit. Since we broke and held above the mode ~ $7,000, I expected a couple more days of uptrending before the bears gave it another whirl. That was a nasty bearish engulfing they left on the 1-day chart:
We saw some strong buys intraday however, and we haven't broken below $6,000, which is positive. Sub-$6,000 would be quite bad because proportions (i.e. time) suggest a double bottom is unlikely.
All we can do is watch and wait. The wedge I mentioned earlier is still alive. Bulls are still defending that historically high-volume candle from February (the $6,000 low) and as long as they do, hope is still alive.
After that, we can plan on targeting all sorts of bases from $2,500-$5,400 to trade the downtrend.