Heavy drop possible if it drops below 7500
BTCUSDAs you can see, the heavy sell happened immediately after the btc dropped below the logarithmic support lines. But the point 5400 is crucial as it is the 0.786 fib calculated from the previous cycle high 1175 to the current cycle high 19891. Hence there could be reversal. If it didn't hold 4K is the next support.
Note
As BTC has already putting bat patterns.. the whole thing might end up as a bat...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.