Price action moving in quite a well-defined wedge, and it appears we are at the end. Red lines shows a clear key price point that, if broken, would indicate the price is headed sharply down.
For me it is showing a clear head and shoulders pattern. This would indicate a continued bearish trend. The blue line shows head to shoulder line price movement which should give price target for the drop - marked by the grey horizontal area. Bottom line is that the floor is sub $3
You know the drill here. Enjoy the ride down!!! Just the musings of a madman, not financial advice and certainly don’t act on what I suggested!!
Only for interest and not advice. Low target if you believe this...! Could we really see BTC back down at $21k in the next 6 months?!
Info only, not advice Double top pattern has formed. Likely to drop through first level of support. It will then retest this level and confirm as resistance o support last that level. Once broken through, likely to bounce on 0.618 level and then drop to the next level of resistance at 92.