As we see Bitcoin is in a descending triangle, we have many reasons (like fear and greed index, fed news, exchanges news) to expect downward movement for that, however, we should consider few issues:
.
- We have a strong support area there at 38k to 40k which price reacted to many times
- It's going to consolidate under 200 MA
- No momentum in the market!
.
So we have two scenarios:
1- the support area pushes BTC up for 44k and more
2- Breaks the support area and goes for 38k and less, this is the scenario which I believe more
God bless us ;)
.
- We have a strong support area there at 38k to 40k which price reacted to many times
- It's going to consolidate under 200 MA
- No momentum in the market!
.
So we have two scenarios:
1- the support area pushes BTC up for 44k and more
2- Breaks the support area and goes for 38k and less, this is the scenario which I believe more
God bless us ;)