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BTC - Jul 5, 2022

BTC has formed a bearish divergence right at the trendline.

Currently, we have finished the correction B wave (green). Thus, I am expecting a bearish C wave to 18.9k.

Why specifically 18.9k?

As can be seen from the highlighted orange region, it is a common fib level for the fib retracement about the huge impulse wave up and the fib expansion about the green A wave.

And this drop will finalize the 2nd wave of the white impulse wave inside the 3rd impulse wave (pink).

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