I think that - from 9950 to 7000 that was a set of 9 wave(with 5th extention). - now it's the corresponding retracement of that 9 wave. - they are 1,2 wave of big C wave to 5000. - stochrsi is overbought. - 1D chart rsi(hlc3) is already 45, which is big resistance in such bear market.
conclusion: price may drop from 7800 hopefully.
Commento
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now raising wedge is forming, which indicates small price rise then drop