As of now, BTC is trading at 63.6k. It's a few notch down since yesterday. Yup, unfortunately for the bulls, the great 64.9k support was broken a few hours ago.🥺

Should the bears celebrate?

Well, it's definitely too early to tell. Truth is, the 12h KDJ oscillator has detected major sell offs at 64.6k. Another victory for the bears.🥺

So is BTC heading to the 50k dumps?

For now, definitely NO. In case price will slip further the next major support is at 64.1k, 63.5k, and 62.8k there are also other major support below it. The daily KDJ oscillator is still suggesting a bounce back to the 71k zone.

However, since the bears were able to gather good sell volume this time, I'm expecting a bit of consolidation along 63k to 65k, before a good green candle will go for the 71k target.

So if you'd like to trade BTC, the best entry is the 64.6k KDJ dive down target or somewhere below it.

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