Bitcoin is highly corelated to the stock market now and since its inception hasn`t faced an economic recession or rising interest rates before. Some highly leveraged loan companies and exchanges will be facing bankruptcy. The chart is self explanatory. My price target is the $17600 support by the end of this month.
21k is acting as a strong resistance level and 18k as a support level. As the global economic situation is not going to improve in the coming weeks, it seems more likely that the support level gets broken and we fall a bit more. I'm looking at the RSI on the daily. I would expect that it keeps rising up to 50, then it falls back again below 30
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How much more can it fall, let's be a little realistic, everything is support, not resistance.