In the last hour the BTC where rejected from the upper trendlinie of the purple descending triangle.
Now there are two secnarios:
The red level (~36.800) gives support (the level gave support in Jan 2021 and was already a Fib level in the major price movement in the last month--> see Fib tracement boxes at the very left). Then we have high possibility to break-out from this descending triangle
The red level (~35.200) gives no support. Then some some consolidation could happen in the region down to the green level. Where a break-out tow lower price levels has high possibility. And then we may retest the lower line (~31400) of the descending triangle. Then it will get very interesting, since we would retest it the fourth time, which give high possibility that it will not hold. And the next price targets would be most probaable below 30.000.
Now there are two secnarios:
The red level (~36.800) gives support (the level gave support in Jan 2021 and was already a Fib level in the major price movement in the last month--> see Fib tracement boxes at the very left). Then we have high possibility to break-out from this descending triangle
The red level (~35.200) gives no support. Then some some consolidation could happen in the region down to the green level. Where a break-out tow lower price levels has high possibility. And then we may retest the lower line (~31400) of the descending triangle. Then it will get very interesting, since we would retest it the fourth time, which give high possibility that it will not hold. And the next price targets would be most probaable below 30.000.
