The fallout of Bitcoin over the last 24 hours is crystal clear. Peaking in the 7400 range, the Rogue* Wave Analysis called for a sell almost perfectly near the top as the struggle began to present itself. This came from the 3-wave pattern which included seeking the target area of 7400 to be completed.
Yesterday’s price action along with overnight (US CST) trading saw the breakdown of several key levels. 7200, 6800, and most recently, 6400 support have all broken with BTC continuing down to seek a low of 6302. In the span of 3 candles, as shown on the mid-scale chart, BTC gave a double test at this low with a second candle hitting 6303. The previous long-term low at 5858 has still not been challenged from the previous fallout, however, this also remains a higher low overall.