Huraian
⋅ We are currently watching a retrace of the upward move that all but confirmed the shift in sentiment from bearish to bullish.
The move up started correcting after we touched the golden retrace of the wave B to C (.618-.65), at around $8,220.
Currently, we have reached the bottom end of a channel, which is also a satisfactory .236 retrace.
It could go lower, but if we start moving up from here, we may see 8.4k by the afternoon. Break that and we may see 8.9k by end of day/early tomorrow.