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⋅ 27,8k was rejected and 27,5k was a strong resistance.
Looks like we going down to 24k... 20k.
An idea about incoming panic phase.
Wouldn't be surprised if we hit 10-12k to be honest.
Don't underestimate the drop power of this market.
Good luck.
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⋅ Very close to weekly MA200.
If we break it down bulls will be quite scared.
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⋅ Closer look on the daily chart you can see the MA100 in soft blue.
When this MA turns down, historically since birth, BTC drops everytime 15 to 50% .
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⋅ 85% drop from the top would be a quite normal % for a BTC bear market.
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⋅ Looks like another bear flag forming very similar to the previous above.
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⋅ We might not go so low as predicted but 26-25k is still a possibility.
Ma50 seems to be turning to the upside and pretending to finally cross the MA200 putting an end to the bear market.
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⋅ Crucial moment.
MACD crossed.
Bearish move.
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⋅ We broke down the bear flag as predicted.
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⋅ This TA initial idea of an huge Head and Shoulder starting to take shape.
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⋅ We are touching the 24k.
Getting closer to MA200 daily as expected. It should be around 23,7k .
A strong bounce may happen in this area.