Bitcoin Dead Cat Bounce Complete. 30-70% Drop Incoming.
As mentioned in prior analysis, Bitcoin market cycle top may have been made back in April 2021. Now the dead cat bounce from 30k's to 50k's has garnered retail FOMO and thoughts that BTC is headed to new All time highs....but not so fast my friends. Such a move is very typical and common to trap retail traders and allow the big money to dump on the herd. I'm sure some sort of news will come out soon to "trigger" the dump, but expect downside targets starting from Initial target near 55 weekly EMA around 30ks.
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