We still expect Bitcoin to be bearish. If you look at our Last/Previous analysis we expected it to test $30,000 and break below this Our target for bitcoin is $20,000 before it bounces back, But currently we have a BUY signal at the moment but it might be short-lived "Bullish Harmonic forming on 4H chart" If confirmed and if Bitcoin treats $30,000 as support again we would expect it to test & break above the descending channel trendline @ $38,000. Failure to do so will see a continuation of bitcoin's downward movement. Also more importantly Bitcoin is now treating a major support trendline as resistance signaling further downward movement.
link to previous analysis below
Note: this is just an analysis based on technical analysis & current events. All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.