BTC/USD - Bitcoin crashes 15%, can it find support?

Bitcoin failed to stay in the ascending triangle and has now closed below it. What follows could be a bearish re-test of the previous support turned into resistance (at $1.8k).

Then if buyers don't step up, the price will likely hit lower levels and may approach the all-time low of 2022 at $17k.

A lower low would be extremely bearish, but in the past, buyers came strong whenever the price was under $20k. Can they do it again?

The RSI remains bullish with higher highs and higher lows, but OBV and MACD show weakness. Volume also favored bears in the past few days.

On the 3-day timeframe, the MACD did a bullish cross, but the price could still move sideways here until a direction is found.

This is a very difficult area where market participants will struggle to properly position themselves. A short here is risky, but so is a long.

Best to wait for a clear signal. Bias is bearish right now due to this breakdown from the triangle, but could also be a fakeout.

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