There is currently a bear flag formation on BTCUSD. If this is broken the flag pole target points to the area of $5700 area. It will be interesting to see how this plays out.
Once the recent lows are broken we will enter into uncharted territory, huge retail selling will ensue, especially those who were 'hodling', The whales will slowly start accumulating.
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Okay, as said earlier the bears have been merciless they want to tear BTCUSD apart. Because of this the the flag has been broken. The next target for BTCUSD is 6355 and then the most important level that is 6089.
*This is intended for educational purposes only and not financial advice*
Even if we go lower many of the alts they were grabbing won't go lower than they were on 18th.
BullWick
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Whales have been accumulating like crazy from under 8. much of which they used to push lower and grab even more by spiking down and scooping stop losses. They aren't going to start slowly accumulating mate, they are nearly done.