BTC BITCOIN GOING TO $15K
2024-10-20

In this trend progression analysis, I track the movement of BTC across three key legs. Leg 1 began when the price closed above $6k, rallying up to $57k. Leg 2 then saw a retracement down to $16k. The start of Leg 3 was marked by BTC's failure to break below the $16k level, eventually reversing and initiating a downtrend once BTC closed below $68k. Currently, BTC has tested the $68k resistance three times, indicating weakness. I anticipate a further decline to $15k, potentially retesting the support from Leg 1. I hope this bearish scenario doesn’t play out.