Overall trend is bearish on Daily and we are looking for a swing trade.
If yellow zone around 1804$ is being respected we will be looking to go short.
Enter on lower-time frame on the break of structure.
All cryptocurrency have a strong bearish momentum and we can see a little more to the downside.
If it break the yellow zone and retest of that zone we can potentially look for more downside to -27.00%.
On H4 time frame you can lower high and lower low been formed.
Daily Support Zone (Yellow)
H4 Support zone (Red)
BTC still has some room to go further down to 40,000-42,000$ zone, if it maintains that zone we will be looking to go long.
If it does not maintain that zone then next support zone is near 30,000$.
As you know cryptocurrency is in bullish trend due to FOMO.
Everyone is buying safe-haven (Commodities & cryptocurrency).
Retest around 430-450$( If support is been maintained at this level).
Full target 800$
Yellow zone is strong daily support & it has been tested multiple times.
We will wait for some kind of pattern to form on lower time frame to enter.
If that support is broken we will be looking to go short.
Fundamentally,Gold is strong because no. of cases is rising world-wide.
If vaccine is developed it will take time for distribution.