Will Bitcoin hit 40k in the coming weeks?

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Bitcoin made two breakout attempts recently. The second breakout failed and this failure is indicative of more downside in the coming days.

Supports that are well in target are just 6 to 8% away and lie close to 49k to 50k. A strong support of rising 200ma is well in sight. This range seems like a good support zone. The confluence of trend line support and moving average may well lead to a short term bounce from this lower range up to 56k.

But I truly wonder if the support zone near 50k is going to hold for long. To me a high probability of 40k exists, yet that can only become likely if the support range of 49k to 52k gives away.

Why does 40k that seems a fair probability?
Generally two quick attempts at the upward breakout have lead to selling pressure. Often it's been seen that if a quick second breakout fails, such failure may very likely to lead to a strong move in the opposite direction of the breakout.

With that being said, let's see how the price action shapes out in the coming weeks ahead.
トレード終了: 利益確定目標に到達
All Targets Achieved | 26% in just 29 days | Bitcoin

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