probably a bull trap is forming (bearish elliot+patterns)
37k is key level support and 48-50k is a massive resistance, let see who wins, elliott wise this is the most probable count, BUT not the only one, i have shared below 2 most probable counts
price actions wise, we have broken down from our 2 rising wedges, and we need to retest before falling down further
rsi has been showing weakness on daily as well since 37k approx
price actions wise, we have broken down from our 2 rising wedges, and we need to retest before falling down further
rsi has been showing weakness on daily as well since 37k approx
Note
bullish count if we get rejected from 38kNote
bearish count 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.