Yes,This is the correct structure.
This is only -7.8% away. With the current momentum, weekly -12% drop, and ETF outflows, this is the high-probability move. This is your first target.
This is the key confirmation. If $62k breaks and closes below on daily/weekly, not just a wick, then $52k is the next magnet. That's another -16% from $62k.
$52k break -> $40k
This is the full bear scenario. $52k to $40k is another -23%. To get here, we'd need a real capitulation - panic selling, not just a correction.
