BTC just dropped from $64,000 to $62,000, and there's a prediction of a bigger crash to $54,000. Some people thought it was going to go up, but it didn't. Here's why I think it's going to crash:
1. The weekly RSI shows BTC is overbought, meaning it needs to drop before it can go up more.
2. On the daily chart, BTC broke a trend line and has been falling since it hit $67,000.
3. There's a gap in fair value at $54,000 that the market will likely fill soon.
4. To be positive, BTC should have closed above its high of $66,000, but it didn't, and it's been falling since.
BTC is holding onto support at $61,800, but if it drops to $60,000, it's likely to crash to $54,000 because the $60,000 support isn't strong. So, be prepared for a crash and consider buying when it dips.