Photo by André François McKenzie on Unsplash

Bitcoin dropped sharply recently, but the current leg down from 31k can still be part of a complex correction that has been underway since May of this year. It's ideally an A-B-C flat pattern, where wave C can be now in progress, so we think that Bitcoin will stabilize, but probably once that C fully unfolds, which can be completed or it's still missing with the support around 24k-23k area. First bullish evidence is only above 28200 level. Lower, deeper strong support is at 20k.

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