The BTC / USD pair has been trading in a junior downtrend pattern in early November.
From a technical point of view, the bitcoin cryptocurrency is likely to continue its downward momentum. The potential target for the pair will be at the lower edge of the channel pattern at 2848
However, the cryptocurrency must exceed the support levels formed by the weekly and monthly PPs in area 3500If this support level is maintained, it is likely that the pair will move towards the 50-hour simple moving average in 4180
If we look at BTC, we are getting the same kind of lethargic movements that we had before. Unfortunately, this leads me to believe that another downward movement is in the cards. I do not think we have a breakthrough until January at this time, unless we get some surprise news from the ETF in December to push the markets. The only ray of hope is that we may possibly be forming an Inverse Head and Shoulder pattern. While I do not like the pattern, it is still there with an inclination. We should get a move towards the 5k area if we break, or 3k if we fail.
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