This is all very simple stuff. If I'm trading it, others are.
Highlighted in red are a majority of the major selloffs since the bottom. Blue lines were invalidated bottoms of those selloffs. Volume is typically low, and the bounce is weak. This bounce has been very week. If we do not bounce, I think we see sub $8,000 within 6-12H. Purple zone should be support. If we break that, we might see low 7ks again.
Highlighted in red are a majority of the major selloffs since the bottom. Blue lines were invalidated bottoms of those selloffs. Volume is typically low, and the bounce is weak. This bounce has been very week. If we do not bounce, I think we see sub $8,000 within 6-12H. Purple zone should be support. If we break that, we might see low 7ks again.