As you can see, there was a bullish breakout when the price broke free from the descending resistance line. This is at least the second time we have seen this pattern since the 2019 ATH (see link below). The first time the price broke this falling resistance line BTC rose from right around $10,600 before topping out right around $12,000. It then formed the new descending resistance line which we just broke through.
I am not a permabull or permabear. Multiple data points/patterns/indicators are pointing bullish.
@DACapitalTrading, thanks. BTC broke through support which explains the sudden fall. It moved through multiple support in fact (see attached chart). Seems to have found a bottom trend line. I will have to chart that at some point.
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