On the 2-week time frame in a downtrend, the price of BTC has already reached its nearest target of $66,939.
On the 2-week time frame in a downtrend, the price of BTC has already reached its nearest target of $66,939.
This signal and its objectives were discussed on February 2, when the price of #BTC was still around $77,000. It was described as very bad signals, quote - "the crypto market has crossed several dangerous lines."
Now it can be confidently said that the trend is not false. This means that its second target is also relevant, $54,654. However, in the past sustainable downtrend on the 2-week time frame, the market did not reach the last target and reversed from the area of $15,000-$16,000.