The short term $BTC charts are looking quite scary here… 👀 Like I discussed in yesterday’s post, we had to hold the uptrending support around $72.5k if we wanted to see the bulls regain control of momentum. But as we can see, that level has been absolutely destroyed, which brought price all the way down to the exact target I was expecting around $70.5k. From here, we MUST bounce if we want to see any chance of further short term rallies. If we don’t bounce here and continue to fall below $70k, I think we will likely revisit the $65k level much sooner rather than later. And if we lose the $65k level, price will more than likely create a new bear market low. I really hope you guys have been paying attention to my analysis over the past few weeks. We have basically predicted every single move in the short term. Once again, I highly recommend keeping a very close eye on price action in the coming days!