Bitcoin is forming a pattern to change or continue the trend after a sharp drop..The pattern formed is Bearish Pennant which have 2 main TP: 1-aproximately 33600 (between fibo 0.5 -0.618) 2-aproximately 29500 But if the bottom of the descending channel is broken, bitcoin will enter the bearish phase and the 20k channel. But it is better to break the bottom of the channel with a shadow and close the candle on the bottom of the channel where is fibo 0.786.(about 31500 $)
you can't simply use speeble metrics without understanding the scrom indicator. put that into play and you can see the consolidation is patchy, with large carlits making their way over the proverbial hill. good luck!
mojahedzarinkolah
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@scrom_indicator I gave this view due to my experience and very simple technical knowledge. The opinions of others are also respectable, but in the end, the market determines the trend. Do not be strict and look at the chart simply. Good luck to you too.