Danger alert: Bitcoin just lost a key level
- 25.2 - 25.4k very important level
- volatility metrics on several high time frames are extremely low and with key area (so far) lost it is likely the crypto market is in front of a bloodbath
- weekly volatility at zero low alongside a head and shoulders pattern on the RSI (comments)
- when price closes inside the gaussian channel usually a test of the lower boundry of the channel follows
- unless 25.3 is reclaimed downside targets is a retest of the 20k region up to even 16k in a worst case scenario
- volatility metrics on several high time frames are extremely low and with key area (so far) lost it is likely the crypto market is in front of a bloodbath
- weekly volatility at zero low alongside a head and shoulders pattern on the RSI (comments)
- when price closes inside the gaussian channel usually a test of the lower boundry of the channel follows
- unless 25.3 is reclaimed downside targets is a retest of the 20k region up to even 16k in a worst case scenario
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Key level has just been reclaimed, this has bear trap potential now.