Which means bitcoin will fall to $39000. This was exactly what I have analyzed before, but I went further to check the chart to see how it is not possible. So I concluded that bitcoin is not falling less than $46000.
Later I concluded that bitcoin will not fall more than $57000/59000. Even if bitcoin will fall more than that, $50000 will be a very huge support. If bitcoin fall further, there will be a huge bounce back at $50000.
Back a few months ago, I predicted that Bitcoin will go down to ass low as $30,000 to around $50,000, but when I saw that recovery that happened a month ago, I said that I think $30,000 is kind of impossible.
Looking at the charts, if the $60,000 psychological support will not hold, the next one will be at the $54,000 area then after that, we might be seeing the $50,000 psychological support where you said that there might be huge buyers on that price level. Worst case is that, if somehow $50,000 can't be hold, I see the $38,000 - $44,000 as the next support area. I think there's a huge chance that $50,000 will hold, but let's always prepare for the worst because we are in a bear market, and unexpected things could happen.
I wonder if the traders here are still making money during the bear market though because apparently, making profits during the bear market is harder compared to it is when we are in a bull market. That's just my experience though.
