A few days ago I made an analysis on BTC and talked about the fact that further weakness would lead to a move towards $37k. The move did indeed occur and $37k was hit, but held as support.

Two days ago we had a massive green day for BTC , but sadly the bulls gave everything away a day after. This move created a lower high, which signals further weakness.

For now, the dotted support line is holding. However, I think that the path of least resistance would be for more bearish price action to occur. The overall market is just in a dire state at the moment with little to be excited about.

Bearish targets: 37k – 35k
Bullish Targets: 44k – 46k

Happy trading1