Bitcoin breakdown from rising channel
Updated
Hard to tell what might happen here. We have broken below the rising channel and have retested it as a resistance implying further downward movement. However, we are currently right on a fib retracement level which could provide support.
Note
As seen above we appear to be following the bearish or neutral pathway.It is not yet clear which we will lean-to, but bearish does seem more likely as the 0.382 has not held as support.
The next support is at 36440 and after that 34820.
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