The digital asset market is in an interesting place right now when we review how the entire bear market has played out. We have essentially followed exactly how Bitcoin has performed over the previous decade, without deviating from its typical behavior.
However, if that were to continue, we would need to expect some type of a flash crash down to $6,000 for Bitcoin relatively soon. Will this happen? Well, I’m not an oracle or a fortune teller. All I can do is perform technical analysis to the best of my ability, and give my opinion on which way I think the markets will swing based on the information I see on the charts. Right now, I would find it more likely that Bitcoin would swing to $6,000 in a flash, taking out all leveraged long positions and hitting all the long stop positions, rather than letting them all get a free ride to the moon.
Since we see the Bitcoin Dominance resting on the support, this may be a move that is mostly applied to Bitcoin, as the Bitcoin Dominance will break supports.
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