Woke up to find the sky had fallen btc and eth have dropped again Nothing we can do—it’s the weekend The inverse head-and-shoulders pattern hasn’t broken down yet But eth has hit key neckline support at 1736 btc is a bit stronger, with a smaller pullback Let’s see how the weekly candle closes tomorrow
If it closes poorly, it’ll keep falling next week, possibly with another wick down, before it might finally stop Next, watch btc support at 598 and 624 And eth support at 1500–1700
The closest analogy to any past cycle for Bitcoin's current price action was in 2015's Wyckoff Spring phase where Bitcoin violently rejected from the Pre-Capitulation Breakdown level for the final flush.
I'll be retweeting this with more charts to supplement the idea.