- Without breaking the resistance of $30,444.93 mentioned in the previous briefing, it looks like Bitcoin ended with a bearish convergence due to the emergence of a sell-off.
- We need to prepare for a bearish trend, but we also need to keep in mind the possibility of an extended convergence.
- A successful $28,715.32 support suggests the possibility of a rebound and extension of convergence, while the $30,444.93 and 31K-31.6k resistances remain important resistances to break out.
- If the 31K-31.6k resistance is broken, we can expect an bull trend towards the green box with the bottom of the blue bull channel.
- If the $28,715.32 support fails, further bearish trend can be expected due to the downward departure of the triangular convergence, and a decline to 22.7k-23.8k or 17.1k-19.7k can be expected.