bitcoin came down and perfectly met our target here just once again make this is the target analysis we take the head down to the neckline and then we pull it down to the point of a breakout and we can see here
How bitcoin fell straight down to my target down here at 10,450. this was basically a 3.4 trade bitcoin is dumping and that is the 20 weekly moving average and that is this purple line and i'm not going to go into the significance of it too much because i've all i've told you many times but it is very very important support and bitcoin is currently getting very close to it again after we retested it
Just a few weeks ago here bitcoin is getting getting very very close the 20 weekly is currently down at 10,100 approximately that is the next major level in my opinion and i do expect bitcoin to not bounce back in the immediate short term i think that we are still looking bearish in the immediate short term and we can also of course point out that this level the 10.1k to 10.2k level is extremely significant in terms of horizontal resistance here
Which should turn into support which it actually did here a few weeks ago this is a very important psychological and technical level if we break 10.1 to 10.2 down here but that is a very very bearish sign and in that case i will have to expect prices maybe down to eight six