Unless we can break above $55k and stay above for 4+ hours we are likely seeing what could be a wycoff redistribution event. Once this event is complete we will see the final leg down. This leg down will be 10%+ as the last leg down in this macro wycoff distribution event is typically the most severe. With it bringing us below the last support and bringing us into wave 2 territory this leg down could be catastrophic to say the least, also confirming the monthly and weekly bearish divergences