Bitcoin is on the edge of collapse!

Hello, everyone!

Last time I told you that sure that Bitcoin is gonna reach at least $27800 before the deep dive. The potential short entry sign could be the confirmed bearish reversal bar inside the wave 2 target area, at Fibonacci 0.61 level. But now I have some conserns that BTCUSDT.P can show us any sugnificant pump.

Let's take a look at the price chart. The first and the most important thing is the confirmed bearish reversal bar above the Williams Alligator, which has already been confirmed. Yes, this bar appeared at the 0.38 Fibonacci retracement which is not an original target for the wave 2, but I can see some weakness. Moreover last 3 bars have the MFI state = 'Squat'. Such type of bars usually appear before the reversal.

Therefore I decided that the wave 2 has been already ended and now Bitcoin should start the most impulsive dump in wave 3. Wave 3 have two potential targets: the minimal one is level 1 at Fibonacci extension, approximately at $25385. The original target is 1.61 Fibonacci extension which is located at $24k. I don't wanna even talk about the max target, I suppose it's unreachable in this month.

Best regards, Ivan
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