Total market cap broke down from an ascending triangle like it did in June 2021 with a failed retest. The measured move is the fib extension of the wave that broke out.
Personally I feel this time the market will not rebound after the dip and BTC will head to 30k again. We shall see.
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First demand zone was hit. I think there will be a dead cat bounce here.
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I think there will be another bounce a bit higher like the fractal. It is rare for price action to follow fractals so precisely.