Yep thats fair, you are both correct some.     Gold is quite bullish but its a decade long stride to consider that market.   If we did fail in some way not just retract from a downtrend line then 5555 or similar is reasonable.
Drawn with crayons there is no certain pricing, I think every nation or exchange has some blurring on the prices as BTC is not actually fixed dollars or anything.   Dollar itself is not uniform in its availability worldwide so why would price be.   BTC is its own currency, dissimilar to anything else unlike FIAT where every central bank deliberately has its hands in their neighbours pockets.
   Failure isnt pulling back I wouldnt judge it that way, on weekly bar its green and 7650 is year average.  Its also above 50 day which has capped it for a while.   If its not holding 7439 then 50 day is near there and 6700 is target downside.  Reason I think it could go further down then present is volume up then down were quite equal looks like, however this day is not yet done so 7439 challenge may decide it