A close (preferably 4H) below blue forkline would confirm the blue C-fork is in play and suggest a fib-based target of ~84k (0.618 retracement).
if 1st target of 84k is reached, it would technically activate the bigger C-fork (red) and close below the red forkline would suggest a further drop to ~77k (0.618 retracement).
Coincidentally this would fill the CME gap. Historically almost all CME gaps have been filled.
If this plays out, 77k would be a fantastic spot to open some longs both on BTC as well as altcoins.
if 1st target of 84k is reached, it would technically activate the bigger C-fork (red) and close below the red forkline would suggest a further drop to ~77k (0.618 retracement).
Coincidentally this would fill the CME gap. Historically almost all CME gaps have been filled.
If this plays out, 77k would be a fantastic spot to open some longs both on BTC as well as altcoins.
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