BTC is in a descending channel, which statistically, has a higher chance of breaking to the upside. Currently, price is at resistance.
If price breaks through resistance here, then I suspect price will head back up to the range high around $21,000 with continuation to 23K+ likely!
If price is rejected here, then the next level of strong support is at 20K. If price breaks below support, then the next area of strong support is $19,600!
If price breaks below support at $19,600, then I suspect we will see a move all the way down to the bottom side of the expanding wedge wherein we would likely make a new low, possibly just a wick low!
Do you think price is going to break out or continue down?
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--- This is not financial advice. It is imperative everyone conduct their own research prior to any trade and/or investment!
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Upon redrawing the bottom side support line of the expanding wedge formation, I see that price could easily come down to the low 18K ---> high 17K price zone!