The momentum is indeed bearish even so, $1700 is strong support for the price and trying to hold on there and if the price lose this support, the next target will likely be around $1420.
On the positive side of view, If the Bitcoin current range lasts a little longer or rises, I expect at most a pullback to the recently broken ascending trendline around $2500. Of course, to do this, the price needs to break the short-term trend line (the orange one) and a potential reaction to the descending blue trendline is expected in the way.
In a word, the price will shape around $1400 finally. let’s wait and see!