The $70k threshold serves as a pivotal resistance point, crucial for determining the market's next move. Following a rally from $52k, we observe a clear ABC correction pattern emerging, positioning the prices at a delicate juncture. The potential for a decline to $60k looms large, with the most concerning scenarios suggesting a drop to $50k and possibly as low as $45k.
Advice: Exercising caution is paramount. A failure to maintain momentum at this level could lead to a pronounced downturn, making it prudent to consider locking in profits.
Should the market manage to surpass $72k, this bearish outlook may need to be re-evaluated.

#MarketDownturn #MarketDownturns