Since the beginning of the bear market after the last ATH at 69K in November 2021, the same thing is repeated.
Each bearish wave is followed by a bullish retracement channel which ends with a confirmation of the bear flag and continuation of the down trend.
We're doing the same thing now, we are in a bullish channel retracement after the last wave down from 32K to 17.6K
A Daily close with a large red candle lower than the last low at 21.2K is the confirmation of the bear flag, towards a change from bullish to bearish in Daily, and the continuation of the bearish trend in Weekly to test the 14.6K on the 50% fibo which is a key level with big spikes in Long liquidation on the King Fisher map.
The S&P 500 is under resistance, the DXY has bounced off the 50% fib to continue its bull run, and a lot of BTC (45K to 50K BTC) have arrived on the exchanges to prepare for a massive sale, the opening Weekly tomorrow will give us more details.
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