is currently on the way to drop
further, but it is not yet clear what it will do with regard to the February $6k low. On the chart above you can find one of the scenarios -> taking out the $6k low: if BTC
takes out the February $6k low, this would create a multi-month (= quite reliable) descending wedge
, which would imply a price drop
to between $4k and $5k (in one or more dips). This price drop
would come close to the multi-year (= even more reliable) upward trend line
support, which is highly unlikely to break. Hence, this could be a long term bottom. This is just one scenario, but the stage for it might get set very soon. Safe trades!