[Bitcoin] 37k-34k-25k-12k??

#Crack #Bitcoin #Binance #Daily

- Even the $41.5k support failed and the green mid-trend line support also failed.

- Since the support area at $37k-$37.7k overlaps with the lower end of the orange bullish channel, the area $37k-$37.7k appears to be an important support area.

- If the $37k support fails, you can expect support in the $34.2k-$34.6k area, which is the lower part of the very large blue bullish trend.

- If you look at the orange bullish trend channel and the previous bearish trend, a bear flag pattern is being created. If a bearish breakout of the orange bullish trend channel appears and even the $34.2k support fails, a big bearish trend is highly likely.

- The basic pattern target price of the bear flag pattern is confirmed to be between $25.8k and $12.1k.

- It is not accurate, but it is known that the average Bitcoin price of major institutions’ position is between $28k and $32k. Therefore, the $34.2k-$34.6k support area is expected to be solid, but if the 34k support fails, the possibility of a bearish trend towards the $25.8k-$12.1k level should always be kept in mind.