Based on the 20K-ish BTC/USD high, and a pretty solid support level of $4,800, a 23.8% level OF the high (20,000 X 0.238) puts us right about 6k. I suspect we may go all the way down to $4,800. If THAT floor breaks, then we really are looking at foundational BTC support. I don't think we'll pass below $3,000 in any case, at least, based on the current technicals. Swimming with the sharks, indeed.
As always, my confidence in my math is higher than my confidence in actually drawing the charts. :)
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As always, I have more confidence in my math than I do my chart actual drawing. :)