BTC update from last post where I projected a wedge-measured move to 20k.
On this 4H chat: BTC after bouncing from a low of 26591, seems to be range bound by 28-31k on a closing basis. It has fallen below all my blue trendlines & is now barely holding the red 30k pivot zone which is also at the very edge of the gray slanted FIB CHANNEL.
If this weakness of lower highs & lower lows continues, BTC may not be able to hold 29k /28k supports & may fall to the next targets at 25k (a 0.236 Fib) or even 24k (a 1.618 Fib)
Worst case remains at 20k where I projected from the breakdown of the bigger green wedge .
Seeing the recent demise of LUNA involving manipulation by Blackrock on UST , we can still see more whales driving price down so they can buy back cheaper. But I cannot see BTC price lower than 20-18k without FOMO buying.
Wave 4 is definitely an expanded flat & may be forming a BIG MEGAPHONE pattern from the 64k-69k top line down to the bottom line touching 28k to probably 24 or 20k.
Not trading advice