Hey! Sorry I have been away for so long but been dealing with family things.
Three scenarios on the chart.
Chart is a bit messy but you get the jist. Personally would loooooooooooooove the 'red' arrow scenario to play out. If anyone out there remembers the 2017 bull run, the 100EMA retrace buys were GOD MODE entries. You made a killing buying at that level. Looking back I think there were around 4 of these in 2017 during the ATH run up. There is MASSIVE support around mid 8000s level combined with the last remaining futures gap and so far we havent tested this level.
I would take the 'orange line' scenario as well....a double bottom. But would scale out at 12k.
My least favourite scenario is actually the most bullish one....'blue line'. IMHO anywhare close to 12k would lead to major price reversal.
At this stage its impossible to know which will play out. For me even on the daily PA is bearish. 5EMA under 20EMA, vol sell showing SELL, parabolic SAR SELL, renko SELL.
I am back now and will try to provide regular updates. Stay safe out there and remember ADYOR!