Bearish divergence on RSI and MACD on the hourly charts, plus I see a little heads and shoulders forming, signalling a likely drop to $42k, and then further downside thereafter.
On the daily we are forming the handle to a cup and handle pattern, see:
.. so this drop to $42k + further downside may lead to the completion of it.
On the other hand, the drop to $42k (or lower) could just be a 'Subwave B' correction of an ABC, leading up to $34k-$35k, that possibility exists too. We are heading into the weekend, so the weekend activity may push it to $34k-$35k before the handle is complete.
On the daily we are forming the handle to a cup and handle pattern, see:
.. so this drop to $42k + further downside may lead to the completion of it.
On the other hand, the drop to $42k (or lower) could just be a 'Subwave B' correction of an ABC, leading up to $34k-$35k, that possibility exists too. We are heading into the weekend, so the weekend activity may push it to $34k-$35k before the handle is complete.