BTC - Technical review and analysis

Bitcoin fell in the last 24 hours, reacting to its important resistance. The resistance range, which was considered at the price of 17180 to 17215 dollars, was fake broken yesterday, and we could identify this fake failure by observing and checking the status of the total index. The sharp price drop has broken the bottom support of Bitcoin's short-term ascending channel and hit support in the $16,845-$16,900 range. This support was previously the ceiling of a range area, which can prevent the price from falling further for a short time. However, the more important support is still at the bottom of the range channel in the range of $16,700, and there is a possibility that the price will hit this range. If signs of support are seen at this level in the coming hours, we can expect a rebound. Otherwise, due to the high angle of the price meets the support, further decline is more likely.