The 40k level was the level we needed to maintain in order for the bull cycle to continue easily. Now it could be a bumpy road, or what's worse, the bear market isn't over. This is a possible catalyst to bring us into crypto winter. NOT good. Now from this price level we have 2 major areas that, if broken, could cause Bitcoins price to spiral to the ground. Those 2 levels are 33k and 30k. Now in the past several years each time we have bounced off 30k.. several months after we reach new ATHs. Great right? Well we bounced off of 33k this past time. Not super different but maybe enough of a difference to be an issue (if we are going by historical movements) The biggest issue we're facing is we are below the major uptrend line. Price can fall out of the sky. When major trends are broken all bets are off. Price can blow by past support levels easier. I wasn't expecting this type of movement now but it changes everything. Gonna keep monitoring and give updates as I feel necessary. Sorry everyone, wish I had better news to share. - DiMarco
Sure it will drop to 33k or 30k.