There is a scenario where the market could turn from testing last ATH to re-testing this years low at $28K.
Especially if the move to ATH was technical in nature (shorts getting squeezed, people buying new ATH just because = technical)
A fall from here ($63k) down to $28K is quite steep and compares to the Covid sell-off in March 2020.
Notice how the RSI (Momentum Indicator) is far away from making a new high, suggesting a lack of momentum.
Especially if the move to ATH was technical in nature (shorts getting squeezed, people buying new ATH just because = technical)
A fall from here ($63k) down to $28K is quite steep and compares to the Covid sell-off in March 2020.
Notice how the RSI (Momentum Indicator) is far away from making a new high, suggesting a lack of momentum.
Comment:
bid @ 48k