Supports are breaking, bears are in control, and we are likely to see this pullback to continue.
I'm not relying on any support level now until we get down to $6,800 for Bitcoin which is a HUGE level.
On the daily, the bears are crushing it with huge volume. I know there will continue to be a pullback to test the support at $6,800. I'd recommend not entering any positions (unless short) until we get to this level.
There is a small support level at $7,330, but I don't think this will hold enough. $6,800 will be relevant though unless the bears step up like they've been doing.
What a ride this has been , I still think we are close to a bull run , This getting tiring though ,
Based off of the last market cycle, it took a year and a half for the boom to bottom out and stabilize before starting a new bull run. I don't think it's as likely to take quite that long, but there's a lot of work to do.