The bears need to get through some major levels first.
There is a monthly support from June which hasn't been tested yet. On Coinbase, the level is $7,427. There is also the 61.8% retracement of the uptrend in the $7,200s. That's the first area to watch.
After that, we have the apex of last year's triangle around $6,500 and the 70.5% retracement level at $6,300. Then in the $5,400s we have weekly pivots from April and the 78.6% retracement level.
If the market busts through all these (and that's a big "if") then you'll get your $5K.
There is a monthly support from June which hasn't been tested yet. On Coinbase, the level is $7,427. There is also the 61.8% retracement of the uptrend in the $7,200s. That's the first area to watch.
After that, we have the apex of last year's triangle around $6,500 and the 70.5% retracement level at $6,300. Then in the $5,400s we have weekly pivots from April and the 78.6% retracement level.
If the market busts through all these (and that's a big "if") then you'll get your $5K.
I believe you, but I want to see a chart of these levels. I'm too lazy to draw them myself. These replacements sound like tasty discounts to me.
Why are we not speculating on the $6k level first? Did we over speculate on this level last year too much already? How boring.
Volume profile says that level is "well important". Even if it completely disregarded this relevance back in May when it blasted through it in 2 days
Maybe you lot have a point.