BTC/USD lost its support on the secondary leg it was retracing. This leads me to believe it will retrace the entire primary leg to its leg start.
Unless I misread the legs (Not well defined) bitcoin could be falling back to at least the 6000 range. (Didn't spend much time looking for the primary leg start, could be lower).
The next level we are approaching should see a first test (bump) in an attempt to test the level that was lost.
I don't own bitcoin, I don't have any psychological attachment to bitcoin, nor do I wish for the demise of bitcoin. This is purely a technical analysis for me to look back on in the future.
Unless I misread the legs (Not well defined) bitcoin could be falling back to at least the 6000 range. (Didn't spend much time looking for the primary leg start, could be lower).
The next level we are approaching should see a first test (bump) in an attempt to test the level that was lost.
I don't own bitcoin, I don't have any psychological attachment to bitcoin, nor do I wish for the demise of bitcoin. This is purely a technical analysis for me to look back on in the future.