The descending triangle has broken down with a price target of $24,000.
We've already almost broken the previous swing low (at 29,250). Even though we are bouncing slightly in the final hours of the day, it shouldn't last and low will be broken. While 24,000 might be a bit extreme, I'm expecting at least 26,000.
The death cross should happen in 3/4 days. Meanwhile, it is extremely important to note that the TD sequential buy signal comes tomorrow. In an ideal scenario, the price would crash to or almost to the price target in a capitulation event and rebound with the TD buy (potentially ending this extended downturn and resuming the bull market).
We've already almost broken the previous swing low (at 29,250). Even though we are bouncing slightly in the final hours of the day, it shouldn't last and low will be broken. While 24,000 might be a bit extreme, I'm expecting at least 26,000.
The death cross should happen in 3/4 days. Meanwhile, it is extremely important to note that the TD sequential buy signal comes tomorrow. In an ideal scenario, the price would crash to or almost to the price target in a capitulation event and rebound with the TD buy (potentially ending this extended downturn and resuming the bull market).
