As you can see on the chart, currently Bitcoin has broken down through the green trendline and found temporary support at the top of the grey channel. In my opinion, a retest of the inverted Cup & Handle pattern will occur within a few days. In turn, this will trigger a sharp bounce downwards and reach the second correction target, which appears to be at around 17K at the bottom of the grey channel. I think the next move will be a slow climb towards the blue trendline. However, this will end for Bitcoin with a final fall to the red trendline near 13K. From this point, the price should start heading upwards already forming an inverted Head & Shoulders pattern along the way.
The above analysis is just my personal opinion. I will be glad if you find it helpful. However, do not take this as financial advice.
The above analysis is just my personal opinion. I will be glad if you find it helpful. However, do not take this as financial advice.
