Will it hold?

Bitcoin is reaching the final support area before falling off a cliff.

This area is the lowest bitcoin has touched during the bear market and if this daily candle were to close down here it would be mark the lowest daily close since 2020.

Check it out:

(Source: https://twitter.com/MatthewHyland_/status/1567214116200218625/photo/1)

If bitcoin loses this level it is likely going a lot lower.

The next major support zone is in the $8k-$12k range.

There are minor supports before this level, but should the price fall to that range it would erase the entire pandemic move and take bitcoin back to where it was back in 2019.