We have to stay above the yellow line. If we do, upside not confirmed until we break ~7400 level with good strength. If yellow line breaks, next key support areas are 6k and 4.8k from initial boom up
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Falling wedge breakout. Next resistance between 7.4-7.5k, but 7.8k is bigger. A breakout of a falling wedge can signify the market has found bottom. I'm not so sure. But it's encouraging to people in the red from longs right now.
Personally I expect a test of 7.8k (pink dotted line), where we paused on the most recent large drop from 9k. Where it goes after depends on how quickly we get there and momentum
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Price should retrace to 7.2k-7.4k fib line then up to test 8.3k and maybe 8.8k