Hello bitcoin traders and friends, welcome to my chart. Every technical indicators and oscillators confirmed Bitcoin is at downtrend for surely at least couple weeks or a month.
Looking at the chart, two reasons that Bitcoin can find the final support line (probably $6500) before the new rally of upcoming third halving event. First reason: market bias is turning into Disbelief phase of "Psychology of a market cycle". Second reason: Then historically how does the Disbelief zone worked out and how 2019 Bitcoin rally was. I think we need to think about it.
And buyers are not much interested at current 7300-7500 prices.
Specifically my consumption is how fast will it drop to major support line? - Price is playing under 7500 resistance line, and some analysist are saying there would be some correction 7600-7900 level. But to me much more faster than that, because 2019 parabolic move up is copying to parabolic move down in this disbelief stage.