Maybe most forget about this level and most are looking into usdt pair which had FUDs during that days, hence I think wave 4 is done and we have our range finally.
42K is 24K
30K is 17K
But I think the range we be bigger and almost 124 days, maybe the spring in mid oct then up only.
Invalidation1: if clean breakout above 24 level.
A day-long very methodical oscillations have built a strong wedge -
AND IT HAS JUST BEEN BROKEN ON THE LOWER SUPPORT.
LONG AND STRONG DROP IN PRICE HAS JUST BEGUN
A BEAUTIFUL, CLASSICAL Double Top in BTCUSD - thsi is a STRONG Bearish formation has been completed on 4 H and 8 H time frames.
As the Markets of Nasdaq and S&P will continue the fall today - a VERY GOOD OPPORTUNITY for SHORTING bItcoin TODAY.
Gentlemen - THIS IS serious.
The major lower Supporting trendline has been crossed down by BTC.
As well as final Departure lower from a 240 hours MA.
Next support - possibly 20,000 $
As the famous song on Jericho walls "and the Walls came TUMBLING DOWN"
Bitcoin has just broken multi-day Lower trend-line.
And Once again - the market maker has Opted to dump on Saturday, to sell at the time the Institutionals are closed, and thus at the best price to sell
When a big Fund or Whale intend to sell and LIQUIDATE a big Chunk of its soon-to-be-worthless Bitcoin - it OPTIMIZES the time and day.
The smallest participation in the Market is of course on Saturdays and Sundays when almost all the Institutionals are closed.
Then The price reaction to a big sale will be the least on weekends.
This IS A REPEATING trend - BIG...
If we break 20k and flip it to resistance then we will indeed go to 12k levels, where there is big support.
This is possible from fundamental analysis
1. more rate hikes for about three quarters
2. stock market has not bottomed out, there is support coming in, though
3. borrow protocols like celsius and 3ac who needs to be liquidated
4. 4 year cycle...
