The chart shows that price just broke out of the extreme demand zone between 84.3K and 85K and by the end of the sixth trading day there was heavy selling.

The long-term downward trend is still there, and every time it hits it, it breaks out again, and this time is no exception.

Bearish bounce + formation of a very sharp bearish flag pattern below the trendline → prepare for free fall.

Fixed target: 80,609 (channel bottom).

On the other hand, the weekend market showed that liquidation volume exceeded US$2.8 billion in just 4 days, and long positions evaporated. Negative funding rates have hit their highest levels in six weeks and crypto whale selling continues. Yields are high in the US and funds are fleeing cryptocurrencies like wildfire.

The most realistic scenario:

84,000, but unlikely to hold out for the next few hours → Tonight, we will see 82,000, Sunday morning, 80,600, and early Monday, we may see 78,000.

How long will 84k last, or will we see 80k tonight?
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