Since our recent flash crash we have seen a decent drop in bitcoin and we are holding up on this 46K support pretty well but there is definitely fear rising in the market. It is looking honestly looking pretty unclear right now, lets take a look at the bollinger bands on the initial crash we came back up super strong and managed to regain the midline but since have fell back down, we are seeing that price action is sitting right on that bottom band and majority of the time we see this we tend to go down a waterslide. Now we could actually see a fakeout or reversal but if we do indeed fall i think we will find some support directly below us and if we dont hold that level at 45K we could see a further drop to the 0.3 FIB, now if you remember in august i was talking about a pullback to the level and overtime started to think it wasn't going to happen but that option is definitely on the table again. the MACD is not looking too great we are seeing both the MA's spread way out and pointing down with no sign of pulling back upwards, the histogram aswell is increasing in bearish bars every day and if this goes on the bearish momentum will increase until this macd cycle reverses. The RSI is looking good actually we have found support coming from a bit ago and we had a good bounce and now are pointing slightly upwards, most important thing is that we need to see the rsi make its way back up past the midline to remain still in a confirmed uptrend and if we fail to do so we could be looking at a shorter term downtrend! Not financial advice just my opinion
