Fuente
Bitcoin continues to hold support at 40-38K, but this is the 4th time it has been tested.
The problem here is that it does not make higher highs either, but rather lower and lower, and the longer it goes without making higher highs, a descending triangle is formed, which tends most of the time to break to the downside, at a distance equal to the height of the triangle (TRIANGLE TARGETS: 35K if it breaks to the downside and 46.6K and 50K if it breaks to the upside).
For now we remain in the range of 50 to 40K, in a gigantic correction phase. In conclusion, take precautions, always ready to buy at 35 or 30k thousand in case of a downward breakout.
Indicators used: Daily moving averages of 21 and 50 periods. Descending Triangle Resolutions