Channel Down continuation but near our target and support.

As expected, BTC consolidated within our estimated Rectangle on 4H and today finally broke the 6,000 psychological barrier after a series on bearish 4H candles (Engulfing, Three Outside Down) reaching 5,858.6 on the 4th straight red candlestick. This projection was modeled after the identical consolidation phase on the exact same levels on the way up (see chart). The 1D volumes are on the rise again (32.33K, 49.43K) as the 1D Channel Down (RSI = 31.707, MACD = -246.300, Highs/Lows = -604.3284, B/BP = -1118.9522) is looking to price a Lower Low below June's 5,762.9. Based on the Monthly chart where bullish and bearish months take turns, we expect the whole month of August to be bearish. Once the final TP = 5,800 (since shorting the the 8,400 top) is realized, we will patiently wait for the next Lower High on 1W to enter. The bottom of this bearish leg since the 8,400 top should be around 5,300 - 5,500, but it is unwise to take shorting to these limits.