So we dumped again, pretty hard. Not that it was completely unexpected (EMAs + resistance area convergence), but before the dump, the trading market just looked like it was on life support, and apathy was kicking in.
Personally, I'm glad a bit more action is underway.
The dump wasn't actually THAT bad, we just went back to the previous support area of $6,200-ish, and got beautifully supported yet again by the weekly 89EMA.
Just look at it. A beautiful pennant (4h chart) forming right on it. Now, a pennant usually means continuation, but the week is soon to end, and I'd bet that purple line will sustain the weekly close.
