BTC bearish butterfly touchdown $46K
BTC is in the process of developing a bearish butterfly pattern on 2 hourly, If you look at the pattern entry point, That level is a strong supply zone and we will most likely dump down from that level towards 40k. I do have a speculative theory though I really don't believe on speculations AT ALL but my speculative theory has some reasoning to it. From November until now the lowest price BTC touched was 33k afterwards next support was made at 36.8k. Moreover we made another support at 37.5k and now we are in the process of making 
39K a strong level and next in line would be 40.5k which is TP2 of this harmonic. These supports are already there but my point is that every time a lowest point was touched, It would not repeat again. We saw 34.4k wick on 24th feb but that end up closing at 38.4k. This is just a mere speculative theory so don't take that as a universal truth :)
39K a strong level and next in line would be 40.5k which is TP2 of this harmonic. These supports are already there but my point is that every time a lowest point was touched, It would not repeat again. We saw 34.4k wick on 24th feb but that end up closing at 38.4k. This is just a mere speculative theory so don't take that as a universal truth :)
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