Entirely possible, even some basic shallow glance at the chart shows 4000 might be the case if we plot out these measured moves (equal repeating legs down as recent ones - but the legs do seem to get smaller). But what grabs my eye, is that the Relative Strength Index on H4 is the lowest, since 2016, when BTC was $350. Still haven't seen any good short-term capitulation volume, unfortunately. 2000 BTCUSD would be quite extreme though.
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