This is my untouched chart since BTC was 15k. The cup and handle played out and this momentum trend line was been mostly respected since Oct 23rd. I expect at least a test of the purple line, my first downside target that is the dotted red has already been reached. A more likely flush out zone is the 20EMA which is the red line I drew the arrow to. In the coming days/weeks this line will slowly come to current price action. This coincides with the base of the two candles I highlighted in the red rectangle. To me this area makes the most sense as a base for this draw down on a weekly time-frame.
-I expect flushes below this on dailies/wicks
-A boring summer now with less volatility until maybe end of August
-A longer cycle with a higher cycle high
-I expect flushes below this on dailies/wicks
-A boring summer now with less volatility until maybe end of August
-A longer cycle with a higher cycle high