For more content like this tip me if you can! thank u :)
One week ago bitcoin start having some buyer pressure, he went from 45k to 52k but yesterday he rejected this pullback. Two important indicators were rejected with yesterday selling bar EMA56(yellow line) and EMA99(white line) this could mean that bitcoin could still look for lower prices.
What prices do we have to look for?
If indeed BTC goes to lower prices 45k would be the first target, but if BTC doesn't hold there, 40k would likely be the major support as you can see in the picture above.
In my opinion, bitcoin will hit 40k and with that in mind I think he is still going to be in a downtrend for a while BUT if BTC could hold on 40k we could maybe see a pullback for real this time, if that doesn't happen and he loses 40k support, then 30k would be the next target and 40k would become resistance for a while.
Bitcoin is moving slowly, because of that this movement could take months since we clearly are in a medium downtrend, so don't expect that bitcoin do this tomorrow or next week.
Also, this is my analysis, not an investment recommendation you are responsible for all the investments you do!
This is what bitcoin could do in the next months:
