I really liked the reaction on the 6.9k retest from above, because it triggered a good demand reaction.
The Open Interest, concurrently, did not show a sudden drop, which makes me think that the demand is "genuine", ie not the result of liquidations and the consequent risk of immediate absorption.
The weekly candle is about to close, and today could make the difference between a close above or below key resistance, and the close of the previous week's candle.
Despite being a nice sign, I don't find it sufficient to open a speculative LONG position now.
For that, stronger signs are needed, such as the weekly closing, an engulfing of the last block 6.9-7.4 or even a break from the 8k, definitive absorption of the entire bearish dump.
On the other hand, no SHORT coverage for now, which I would reconsider to the confirmed loss of 6.9k.
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