What to expect from the new bearish wave

I have identified a bearish channel that can help us identify candidate zones to stop the fall.

Zone A in the region of 15,600, with a line with 3 previous reversal touches, also coincides with the minor fibo 1,272.

We also have Zone B and Zone C, as candidates, with lower chances of price reaching them.

I have a short open and will let you know when I decide to start buy.

Komentarz:

The 15,600 "A" region marked in the analysis is holding the fall for now

Komentarz:

Bitcoin is currently facing a resistance area that was former support in the 18k region.

If the price goes back to the fighting region above the 18k, we will have a high chance of the fall being over and we can start a new long bullish cycle.

I note that the second largest market cap coin (ETH) and the general marketcap index have already returned to the fighting region, which increases the chances of bitcoin also getting it.

Komentarz:

**Open Short BTC**

Taking advantage of the decisive zone, I decided to open short.

The good part of this trade is that if we hit stop, we will be able to open long for the long term.

Entry: 17,430
Initial target: 13,086 (24.9%)
Stop: 18820 (7.9%)
Volume: 10%