With FTX exchange collapse the whole crypto market has been collapsing.
BTC broke the key support and reached $15700. The bounce that we saw yesterday was just a successful bearish retest. Most likely the price will continue dropping.
It wouldn´t be surprising to see more crypto firms, lending platforms collapsing in the next days or weeks which would increase even more bearish sentiment in the market what would result in a final leg down also for BTC.
The sentiment is very bearish and onchain data shows that people withdraw their coins from cryptocurrency exchanges. It´s fearful territory and it may be very ugly soon.
$14 000 is not a strong support therefore we expect that if the price continues dropping, we will see $12 000 - $10 000.
DCA between $14 000 - $10 000 which seems to be a perfect buy area for a long-term investment.
P.S Not your keys , not your crypto. Buy the ledger and withdraw your coins from exchanges.
Good luck
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Short-term bounce is likely. However, the target remains unchanged.