It is axiomatic that surprise actions cause the biggest moves.
So it’s no surprise at all that when everybody expects support to hold, and it doesn’t… hilarity ensues.
That really looks like a completed retest of the lows that should kick off at least a test of the old highs.
Aww sheet… that’s gonna leave a mark
So now we really are retesting the lows. Except THIS time, notice the volume is rising to the downside. Odds now favour breaking support again.
But that’s not the whole story, BTC is a heavily manipulated market, and a concerted effort by the Tether/Whales crew could jump in and save it.
By the technical analysis this SHOULD make new lows and fall and keep falling…
But I smell fuckery. I think there is a significant chance that this drop is engineered bullshit games. No way to tell at this stage.