Looking at our trend timeframe we see price continuing to respect our downtrend, showing momentum is in favor of bears. Support has been found at 40000, price now looking for resistance at 50000. Will watch smaller timeframe for an entry, last time price was this low was back in November 2017.
Shifting over to our pattern timeframe we see price has formed a at 40000, todays open at 43608, with a high of 46870. A daily close above 45500 and our trade is activate and we should expect a extension towards our 52500 resistance. showing momentum is in favor of bulls, finally target 75000.