150 days ~ long bullish trend-line lost its daily support.
On the weekly chart we can also see triple bearish divergence, and reality of this parabolic growth.
I don't think that the bull run is over and quite possible we could see new ATH this year, but if BTC closes weekly red under the support, we could see first real correction of this bull run.
First target lower 40ks, which would be normal historical correction of 30% - 35%.
Second target lower 30ks, which would be almost 50% correction.
Second scenario looks quite harsh, but considering that BTC didn't have any real correction so far and has been going straight up since 20k, there's a possibility we could see a deeper correction. If weekly closes above the bullish trendline, we can expect new ATH in the next couple of weeks. So very important weekly close for BTC that could determine next short to mid term trend.
On the weekly chart we can also see triple bearish divergence, and reality of this parabolic growth.
I don't think that the bull run is over and quite possible we could see new ATH this year, but if BTC closes weekly red under the support, we could see first real correction of this bull run.
First target lower 40ks, which would be normal historical correction of 30% - 35%.
Second target lower 30ks, which would be almost 50% correction.
Second scenario looks quite harsh, but considering that BTC didn't have any real correction so far and has been going straight up since 20k, there's a possibility we could see a deeper correction. If weekly closes above the bullish trendline, we can expect new ATH in the next couple of weeks. So very important weekly close for BTC that could determine next short to mid term trend.