Bitcoin is currently moving within multiple chart patterns that will indicate price movements in the next 48h.
Today BTC can drop from resistance formed by symmetrical triangle (red), middle of ascending channel (green) and top of right shoulder in H&S formation (yellow). If it happens, tomorrow BTC will probably break 37k support (formed by all three patterns bottoms), with next stop at 35, 33k, 31k or even 27k area.
If BTC breaks 39k resistance today or bounce from 37k support tomorrow, we can expect further movement all the way to the top of ascending channel. But with bears taking over and indicators suggesting futher correction it is very unlikely.
Today BTC can drop from resistance formed by symmetrical triangle (red), middle of ascending channel (green) and top of right shoulder in H&S formation (yellow). If it happens, tomorrow BTC will probably break 37k support (formed by all three patterns bottoms), with next stop at 35, 33k, 31k or even 27k area.
If BTC breaks 39k resistance today or bounce from 37k support tomorrow, we can expect further movement all the way to the top of ascending channel. But with bears taking over and indicators suggesting futher correction it is very unlikely.
