Short

$BTC Descending Triangle Formation - Breakdown Target - $37,500

is in a downtrend on the weekly, daily, and 4H time frames suggesting more downside to come. If breaks down from this Descending Triangle formation, the measured move would take price down to $37,500.

From there, over the course of the next couple/few weeks, I believe we would see further continuation down to the low 30K range, then a nice bounce.

I believe will see more immediate downside if it prints a 4H or higher time frame candle below the prior 4H low and horizontal support zone at $40,700.

We can see RSI and Stochastics are simultaneously breaking their relevant trend lines... maybe no bounce before a breakdown.

CryptoGuru369

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CryptoGuru369

General Inquiries: t.me/cryptoguru369

Twitter: twitter.com/CryptoGuru369

Also on: