BTC touchdown on 38% FIB, support @ $6,770. Watch next 4 hour for bull div on 4 hour RSI.

Point and Figure We have confirmed a new column of 6 O's. Our range is between 6,064 (lower low) and 7,776 (horizontal level). We have an unresolved long pole from 7/18, if price declines below $6,900 the long pole will be resolved.

We are at 38% fib here, nice strong move down. Looking for a green candle on the next 4 hour and that will give us bull div on the 4 hour chart. Can risk a long here against 7/20 lows if you wish to trade the 4 hour chart would not be bad.

Daily chart does look like we will be going back down to where we made our first higher high. I am talking about the higher high against 7/7 at $6,770, which could provide support if we continue lower. The 23% local fib is here and volume profile node on weekly scale. A move down to $6,770 would also resolve the long pole from 7/18.