1) Bitcoin just broke the second yellow line (growth B) which is very
2) If we break 6k, next stop is around 4.5k. this is a strong support (Support A)
3) If we break 4.5k next stop is 3k. was nuts there. This is an even stronger support (Support B + Growth A)
4) If we break 3k next stop is 1.3k. A gap has to be filled here. This is the lowest spot I think BTC could drop before the start of a new bull cycle (support C)
5) Green arrows show a direction to new all time high. But even if it fail to go to new ATH , BTC will still pump hard from those areas before continuing it's drop
Those 3 possibilities are really worst case scenarios, especially the last one. I don't think Bitcoin will take a dive to 1.3k (even if BTC usually always filled it's gap... But it's a possibility, keep this in mind). However, since BTC broke it's last (Growth B line), we could see more blood coming in the streets of the crypto market and Scenario A is really possible now. Of course, before a drop around 4-5k we have couple supports area. The first one is at the current level (9.2k) on the 78% fib retrace (It will probably not hold) and the second one is at the last BTC low, 6k ( was huge so this mean there was a lot of buyers in this area, this is a good support). I personally think we will go visit the 4.5k zone before the start of a new bull cycle.
Stay tuned for more updates,