Hello everyone .. first of all, this is not a financial advice it's just a view how i see the market depending on few studies that we have been passed through specially in bitcoin
Fundamentally: BREAKING: The FTX hacker is selling thousands of ETH and buying wrapped #Bitcoin
Technically: as we spoke before that we already spotted a symmetrical triangle. Bitcoin started a fresh decline from the $17,000 and $16,800 resistance levels. The price is trading below $16,350 area which is the resistance now for the broken symmetrical triangle and a great support line. There is a key bearish trend line forming with resistance near $16,350 on the 4-hours chart of the BTC/USD pair The pair could resume its decline below the $15,500 support zone in the near term and might reach the target for the triangle at 1.618 fib levels @ 13800-14000$ areas The pair also could retest the broken support again in near future @ 15800-16,000 ish areas and decline later to hit the bear flag targets which i expect to 10500-11800 ish areas, and why i expect that >> due to market history specially while people calling the bottom .
Good luck everyone and be careful how to trade it . and most important thing don't be greedy and fomo about the bottom is there, don't worry you will get your chance when its time ..