There are 3 possible scenarios:
- double bottom at $30k
- break of $30k then a long wicked wick closing
- break of $30k and a prolonged dump until 2.618 or 3 FIB
However, as per BTC's DNA, it doesn't go below its previous blow-off top, which was $20k
Please note that this whole drop is probably just wave A of 4. Most likely, the BTC correction would be a triangle since its wave 2 correction was a zigzag. Hence, don't expect a new ATH soon since triangle corrections are quite tricky to trade and takes at least 8 months to finish so patience would be badly needed in here.
If you are still HODLing your BTC, I highly recommend to stake it.
- double bottom at $30k
- break of $30k then a long wicked wick closing
- break of $30k and a prolonged dump until 2.618 or 3 FIB
However, as per BTC's DNA, it doesn't go below its previous blow-off top, which was $20k
Please note that this whole drop is probably just wave A of 4. Most likely, the BTC correction would be a triangle since its wave 2 correction was a zigzag. Hence, don't expect a new ATH soon since triangle corrections are quite tricky to trade and takes at least 8 months to finish so patience would be badly needed in here.
If you are still HODLing your BTC, I highly recommend to stake it.