The low reached yesterday could be the weekly/daily cycle low, but there is no confirmation at this time. If this isn't the bottom, it should happen sometime next week. Should BTC get a swing out of here and undercut the low again, the next weekly cycle would be considered as failed, meaning further downside is likely. If not, I think that path on the chart could probably lead to what will happen in the next daily cycle, but only time will tell.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.