I updated this chart to show the full support range. This is Bitcoin's main support. Between $100,000 and $103,000. If this level breaks, prepare to see Bitcoin producing another week red then consolidation, on and on, before the next high.
If this support holds, then we can expect a soon and fast recovery.
The most likely scenario is that it will take around 2-3 weeks before the retrace-correction is over followed by new growth.
Remember, always a higher low. Just look back to August 2024. After the major low was in, there was indeed retraces and corrections as part of the bullish phase. It is the same.
Retraces and corrections are just an opportunity to buy-in, rebuy and reload.
If you missed below $80,000 in the last drop, you can get below $90,000 in this drop. But not much lower.
Bitcoin will never ever trade below 80K.
Thank you for reading.
Namaste.
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