For a moment there, I saw we got above that long term resistance line and started using it as support, which would indicate we're now out of that downward channel
and starting a heads up towards a greater resistance area
, but that confirmation never came. An (expected) drop back into that channel confirmed for me the channel is where we're staying for the moment. Continuing further down to $7200 - $7400 - $6900 and further down to test the long support line at 6400. We can add traders indicating lower bottoms at lower $5000 regions but market sentiment has to be added to your chart somehow. We all know when below $6800, the big boys come out and play. If we have to go below $6000, it definitely won't be for a long time...When your chart gives you other ideas and insights, please comment!