Bitcoin is not looking good, more downside action still to comeTechnical analysis:
Welcome to this quick update everyone,
In Daily timeframe Chart, Bitcoin was breakout the Falling Wedge2 and Falling Wedge1 and retested done & Above the Major Daily/Horizontal Support (31k to 28k). Need to break both the DMA {Daily Moving Average (21&50ma)} to be bullish and get momentum from here but The price didn’t manage to break the dashed resistance trendline and there was no breakout confirmation on the RSI ❌, it's break the down support so, i think more downside action still to come.
If Bitcoin Remains Above the Daily/Horizontal Support, Bitcoin gonna Bounce Back Anytime.
In Worst Case, If Daily Candle Closed Below the Daily/Horizontal Support Area , Next Stop would be 20k
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