Short transcript from a market-analysis YouTube video noting a bearish daily close and a downside bias with targets near the previous daily low and $103,000; the speaker also notes on the weekly chart a bullish fair-value gap and that a retrace to $100,000 would not be surprising.
So starting things off on the week on the daily chart, we closed bearish. And so the bias today is going to be towards the downside either on the previous daily low or right there. That would be the target and perhaps even 103, as discussed yesterday. Now on the weekly chart, just remember that you are still on route to this bullish favority gap right here, which means that even if you were to retrace all the way back down to $100,000 wouldn't be a surprise.
