BTCUSD
Has put in a swing low at 34,385 and pulled back from that area. This area is my first target for a short position as Bitcoin continues to put in lower highs. If the lows are broken I believe Bitcoin can swing to lower support at 32,376 increasing supply in the market. The drop would serve as a part of the natural rotation of Bitcoin after a failed break at 40,000 earlier this week (likely a result of buyer shock). Furthermore, the initial drop from 41,000 greatly increased short term uncertainty in BTCUSD, and those who were convinced of moonshots to 50k-100k might be taking a breather after such a rapid drop. Take all this with a grain of salt as the market has continued to see increasing buying volume and I simply believe that 32,000 would hold as strong floor.