The price has just gone back up to nearly $8300 to retest the line that was acting as support to confirm it as resistance. It was clearly confirmed as resistance and that means we are heading down.
Key supports approximate numbers: 7650 7240 7000 6000
It looks like this correction wave may be taking a downward 5 wave correction. See the chart. If this is so, we see some upside after the next leg down is complete.
Take the time now to write out your trading plan. Decide how much you want to risk, but since we could get a bounce at any support, you may consider how much do you want to buy on the supports. It is good to have a plan in advance.
What are your thoughts.
This is not advice to buy or to sell, but I am sharing my ideas. You should do your own research and make your own investment decisions.
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