Bitcoin will retest levels below $26k before finding a bottom

I warned that Bitcoin would not find support until it reached $26k or lower many weeks ago.

Now, I believe Bitcoin will attempt to move below $26k again - to FLUSH OUT new lows. This could mean a move below $22k or $21k - possibly bottoming below $20k on deep selling.

The markets are looking for a bottom, but the unwinding of the speculative phase (over the past 5+ years) is going to take time. As traders and investors shift expectations, I'm expecting a much deeper unwinding process for Cryptos and Bitcoin. Ultimately, the $16k level may come into play again. But technically, the trend is Bearish and I believe this is the first downside wave of a bigger FLUSH OUT price move.

Everyone will be saying "this is the bottom".. I don't believe we've seen the bottom for Bitcoin yet. Stay cautious.