After a big rejection from higher time frames resistance levels at $14k, BTC had a -20% day that found a bottom around $10.3k. Subsequent rise to $12.4k started to form a classic descending triangle that can also be seens as a Head & Shoulders pattern. In any case, both structures show clear technical weakness. A breakout with volume below 10.3k confirms the structure and sets up a clear short trade.
Note the declining volume that supports this idea.
Note the declining volume that supports this idea.