The current situation looks similar to October 2019

After the mini bull market ended in July, we consolidated deep inside demand for a while, a concerning warning sign. One last exit pump / short squeeze (the Me pump) then bear market continuation.



However, we've already tested support 5 times - buyers are exhausted and Rule of 5/6 applies. If we return for another test, it's unlikely to hold. This pump needs to follow through, otherwise we could easily go to 24k or 20k without any chances to exit.