Hi! so the drop is expected because momentum was lost, what usually happens is when stock market fall this market drops too but it didn't crash when stock market was going down. So what happened was BTC formed a pennant and pennant usually break either way and it broke downwards with huge amount of volume as you can see, i have never seen RSI go below 20 on daily time frame so it was a huge sell off, we might see a pull back from here of around 200$. If we broke 5350 it will test 4550.
Levels to watch: 5350, 4550, 3450, these are levels we found support and resistance in past.
Pennant Target: 4900
Levels to watch: 5350, 4550, 3450, these are levels we found support and resistance in past.
Pennant Target: 4900
Comment:
we have reached our target
Comment:
i don't think 4k is the bottom