How far down could it go?
We saw quite some price action the past days with Bitcoin falling to about 60k, again. So far the support in this area is holding strong with buying pressure starting as soon as we come towards that brink. BUT I doubt currently that we have seen the end of the correction. Just too bad macro sentiment with war in Israel and maybe no interest rate cuts by the Fed this year.
We could go deep into the fifties if the line doesn’t hold, bringing Fear & Greed index into neutral area. Currently we are still within „Greed“ zone.
My best guess at the moment is that a dip towards 58k or even 50k is likely, but this will probably be the start of a new Rallye towards new heights at about 80-100k.