BTC may have just finished a countertrend wave 2 in a decline which may terminate around 3500. The 5000 is viewed as minor support as it doesn't complete a motive 5 wave.
Rejection is around 6900.
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We are now in the rejection zone. If we close above 6900 on the daily, a new study needs to be made.
The previous rise to 6800 may have been a spike reversal and we are just now finishing the counter trend correction.
The previous rise to 6800 may have been a spike reversal and we are just now finishing the counter trend correction.