Due to very low demand and prolong bearish market. There are 2 possibilities for BTC in near future
Current Price : 78.6% Fib can't hold at 4200-4400 and fail after retest. Next Target : 88.7% Fib at 2200-2400
Possibility ======== (Case 1) BTC test 88.7% fib with last big capitulation to 1200-1500 then leave very long shadow and price close above 2400 ( TF Weekly ). Outcome : If this happen, we might be able to see BTC reach new ATH in very far future lol.
(Case 2) 1200 can't hold and price close below 2400 Outcome : This would trigger bigger capitulation and no one want to catch the falling knife anymore.. Because it TA fail. People will leave the market.. for good. Exchanges are closing down due to no one want to trade anymore. People are rushing to cash out because if they slow, there will be no exchange to cash out profit ( even "short" profit ) It will be written in history as "digital junk" aside from tulip mania lol.
Well... let's hope 88.7% can hold and pray for Bitcoin!