Price is desperately trying to discover a bottom. I'd like to see a short term W come in as drawn in white. Verification of a bottom will dictate further upward movement. However, failure of previous lows ensures lower price discovery - toward 78.6 and muak levels.
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We failed to put in the double bottom as indicated by the W draw in white on this chart. However we did move to discover the bottom of value just below 78.6. BTC need to put in a double bottom as opposed to the V bottom bounce we're currently seeing otherwise we'll be revisiting this $7000 area again in the near future.