After $BTC broke below 82k$ , it saw a mid-range rebound, and I believe the first major target on the chart is the 75k$ area.
The structure keeps making new highs and new lows within it. Therefore, I believe the next target will be a drop to $55k.
As shown on the chart, this looks very similar to the drop below 82k$ in May. The May high at 82k$ formed in exactly the same way as our current high.
Then we saw the first sharp drop, and now, just like in May, we’re seeing a rebound.
After that, if we break below 82k$ again, we should see a drop to the trend support (73k$) coming from 58k$ .
Then, with a break of the trendline, I expect a new bottom to form.
Targets one by one below 82k$ ->
75k$ -> 63k$ -> $55k
The structure keeps making new highs and new lows within it. Therefore, I believe the next target will be a drop to $55k.
As shown on the chart, this looks very similar to the drop below 82k$ in May. The May high at 82k$ formed in exactly the same way as our current high.
Then we saw the first sharp drop, and now, just like in May, we’re seeing a rebound.
After that, if we break below 82k$ again, we should see a drop to the trend support (73k$) coming from 58k$ .
Then, with a break of the trendline, I expect a new bottom to form.
Targets one by one below 82k$ ->
75k$ -> 63k$ -> $55k