There has been some bad Covid news from Australia over the weekend, reporting a potentially lethal outbreak. The Aussie is also in a strong supply zone against the dollar.
The initial target would be 1:5, however, If it drops, it could go significantly lower
potential drop from here. Still some fresh demand available lower. I feel this will have to be collected before the market pushes higher. We do have good bullish momentum so this may be invalidated quick
As a crypto fan, I really don't want this to happen. However we are in a strong liquidity zone and the next demand is quite a way down unfortunately. Hopefully some institutionally money can pump through this zone and continue to 14k and onwards but this drop is a real possibility.
BTC regularly creates hype & sucks people in with a pump before reversing.