Bitcoin – Downside Target Revealed!

Hi all!

Yesterday I told you there would be a boring move down. I think it has already started. Bitcoin still has not broken through key support. In case of a breakdown, you can point to the global lower target.

On the 1D timeframe of the BTCUSDT chart, we can plot Fibonacci levels. The price hit exactly the 0.5 mark and received a rebound. If the trend continues according to the Fib Div strategy, zone 27 is the last target. Now it is at the level of $13-15k. To complete a downtrend, the market needs to carry out wave 5, which usually corresponds to a clear divergence. Technically we have this divergence with a wave that ended at $17.5k, but it is too weak, and the crossing of the zero line is minimal. The current wave is more likely to be wave 4, so we will see wave 5, a clear divergence and a new lower low.

Good luck!