Hyperwave process of Bitcoin NOT looking good at all.
Phase 7 of the Hyperwave broke below phase 3 line and therefore phase 3 line no longer exists.
There's a possibility that we can see a reversal at $5800 if we get dramatic buys and start phase 3 again.
If $5800 support level doesn't hold then next reasonable support level is the phase 2 line which sits at the $4000 level
and if it happens to break below Phase 2 level, then Bitcoin can go as low as $1300 and start another Hyperwave.
There's a possibility that we can see a reversal at $5800 if we get dramatic buys and start phase 3 again.
If $5800 support level doesn't hold then next reasonable support level is the phase 2 line which sits at the $4000 level
and if it happens to break below Phase 2 level, then Bitcoin can go as low as $1300 and start another Hyperwave.