Hello All,
it appears that BTC has a little farther to fall most likely finding support between 32-34k price range.
In my opinion, this confirms that Bitcoin is indeed in a bear market and that we will get a slow retracement back to the 56-57k price range before crashing.
Price action is very different than the 2021 crash. In the 2021 crash BTC slowly fell after the A-B-C correction forming a a bullish descending triangle type pattern. In this crash, price has began ranging since the A-B-C correction not signaling any sort of bullish continuation like the 2021 crash.
Right now from my analysis, I am expecting BTC to collapse sometime in early July 3rd-4th is what I have drawn out. It is of course hard to predict the precise timing of a crash but this would be my best educated guess based on price action.
Updates to come.
Safe trading
:)
it appears that BTC has a little farther to fall most likely finding support between 32-34k price range.
In my opinion, this confirms that Bitcoin is indeed in a bear market and that we will get a slow retracement back to the 56-57k price range before crashing.
Price action is very different than the 2021 crash. In the 2021 crash BTC slowly fell after the A-B-C correction forming a a bullish descending triangle type pattern. In this crash, price has began ranging since the A-B-C correction not signaling any sort of bullish continuation like the 2021 crash.
Right now from my analysis, I am expecting BTC to collapse sometime in early July 3rd-4th is what I have drawn out. It is of course hard to predict the precise timing of a crash but this would be my best educated guess based on price action.
Updates to come.
Safe trading
:)
