We need to notice that buying trend doesn’t enough to overcome resistance anymore. Before $19900, bitcoin preserves by supporting previous higher point. But nowadays it becomes the other way. That means traders didn’t think btc has powerful anymore.
I think it can be dropped to 2900, or less than that if red line is broken. But if price supports this level, it can make uptrend at most $20000.
So, I think we need to trade btc and others cryptocurrency more carefully. If you don’t think trend reversal becomes this market, just manage your risk. That’s what we need to do now.
Trend Channel is broken in 4 hour chart.
Now we know that the red line is Bearish base channel, not the deceleration channel.
We think we entered into bearish market, not the correction market.
We need to look 1 Day Candle Ending.
Sorry for my English skills..