With the current overall trend being bearish on this asset, we very well could be in a bearish continuation pattern to the downside to test the .00009-.0001 area. BUT, if we sweep the low and set a higher low, or set a lower low with bullish divergence, we could rocket back up with the BTC halving, UNLESS this is the top. IF this is the top, we can expect a full reset down to as low as that lower target at the .000475 range.
IF none of these lower areas get retested, then this may be a first wave pump and preparing to retrace back up to .0009. This scenario will be invalidated by a break of the lower trend line for the raising wedge pattern.
Bull Market cycle will be invalidated by a break and close below .0009 I think
my main concerns are- bearish divergence on the higher time frames, increasingly bearish price action following the feds rate cut, lack of volume, and the overall state of the economy, the everything bubble.
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