Can we go below 40k?
It seems to me that usually in a bull market we do not get within 25% of the 200WMA; however, in a bear market we could touch the 200-WMA or go 35% below it.
Right now, the 200WMA is at about $43.8k, so 25% above it would be about $54,750.
Right now 35% below the 200-WMA would be $28,500-ish.
Of course, the higher number of $54,750 is much more feasible than the lower one, especially since we seem to currently be in a bull market.
Yet, just because such numbers are feasible or possible, it seems unrealistic for any of us to be expecting those kinds of possible numbers.
Downity candles frequently create uncertainties, and surely we have not really had any severe downity price moves since October 2023, and between March 2024 and October 2024, the largest corrective BTC price move that we got would have been just shy of $74k and down to $49,577, which was about a 33% correction.. so sure perhaps we could get a 33% correction from $109,356, but that would ONLY bring us to $73,300-ish...
Maybe we have to see what happens tomorrow with the markets? I was thinking that sub $85k was going to be low odds at least until we went over $115k first, yet we might be in a position in which folks are wanting to panic in various markets through their realization that Trump is a BIGGER incompetent and reckless dweeb than previously presumed.
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