btc dump from 61% fibonacci .. next support between 7500$ to 7300$ and btc may test 8500 again or reach 9000$ then dump will start again to test the bottom !
note : recovery from 5750$ to 8500$ was just a correction wave in a downtrend ! (btc still in a downtrend )
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#BTC update
it seems like 7450$ is the dip maybe we will see a green market tomorrow STOP LOSS UNDER 7450$
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big support here !
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#btc may test 6800$ first before rising !
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6850$ support broken !!!!
it seems like btc will continue dumping to 6k target without a correction !! watching the market is very recommended now
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#btc dump only to 6200$ then start a correction these fibonacci levels are very imoprtant and dump expected from it 6500$ - 6650$ - 6750$
do not forget that we are in a downtrend
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#btc update
dump happened from 6650$ to make an AB=CD pattern next target 5800$ - 5700$
Trade closed: target reached
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target reached without a correction !
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it seems btc will not reach 5750$ for now and a correction will start i will make another idea for it
I was 100% thinking there had to be a short term correction downward before going back up again for a touchback like this. It seems to me that if BTC continued to dump from this very moment the pump and dump would be just to short lived at this period in time in the bear market. Every other bounce after the ATH thus far has had some sort of resistance retest after dumping for the next bear movement.
Amjadsid
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may be above 9100... price have to go below 5800 sooner or later
I somewhat agree with your analysis that the recovery was more of a relief rally but i believe that with so much hype around Bitcoin ETF we might see btc testing 7250 and then rally again upto $11300.
The momentum will suit the bears to pull the rug from higher rug with more liquidity.