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⚠️ Emergency Update!

🔥🔥🔥 Ready for another Bearish Market mentally : 🛑🛑🛑🚨🚨🚨

BTC price chart shows Bitcoin can match $49.5K lows within days.

BTC price action has a habit of “filling” downside wicks within days or weeks, the Bitcoin daily chart shows.

BTC 57,313$ risks another trip below $50,000 after a giant daily candle wick spooks analysis.

In his latest X coverage, popular trader CrypNuevo warned that recent BTC price volatility may end up in Bitcoin matching six-month lows.

🔥 BTC price history shows wicks “filled” in days

Bitcoin has managed to bounce more than $5,000 versus its $49,500 bottom seen on Aug. 5.

Consensus is yet to form over where BTC/USD could be headed next, however, and opinions are diverging as the dust continues to settle on a grim day’s losses.

For CrypNuevo, there is cause for concern. Historically, he noted, large wicks generated by volatility tend not to wait long before price returns to “fill” them, matching the lows.

📢 Uploading an explanatory chart, he showed that it is often a matter of days before such a process plays out.

“I’ve marked in this chart all the long wicks applicable to the wick-fill strategy since March to put things into perspective,” part of an accompanying commentary added.

“We don’t know when exactly this new long wick will get filled, but it should get filled sooner or later.”

Another post noted a curious element of the BTC price rebound. The bounce, CrypNuevo acknowledged, had come at a key level.

“We bounced from EXACTLY the 50% level of a previous long wick,” he concluded.

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