BTC is dragging the whole crypto to new lows
It is not looking good for the crypto market, despite my positive view over the total market cap chart, BTC is looking really bearish here.
It is about to deep below the 61.8% retracement and below that we have some support at 20k and 10k.
Using a simple ABCD harmonic projection, the end of it is around 10k... really depressing for the crypto community.
Anyway, my view was that this was stopping above the 61.8% retracement, which still can happen, but when you look at the bigger picture, the most probable unfortunately is the ABCD, unless some strong macro events happens in between.
It is about to deep below the 61.8% retracement and below that we have some support at 20k and 10k.
Using a simple ABCD harmonic projection, the end of it is around 10k... really depressing for the crypto community.
Anyway, my view was that this was stopping above the 61.8% retracement, which still can happen, but when you look at the bigger picture, the most probable unfortunately is the ABCD, unless some strong macro events happens in between.
