Bitcoin: BTC / USDT
We pointed out that after the medium-term Harmonic CRAB Pattern formation was completed, the price movement moved within the Ending Channel formation and the negative dissonance in the indicators. With hard selling from the main resistance zone, Ending Channel broke down and took its target. The 43770 support level reacted for the 3rd time, preventing the price from sagging further, but a downtrend may start in the medium term as a new low is formed. It can make the correction move up to the level of 49663 and a decrease can come from this resistance level again. If a new low is formed below the 43770 support level, the downtrend will be confirmed and the 41350 and 37330 support levels will be followed.
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Our chart, which is in a bowl formation formation on the daily chart, regressed to the main support zone with hard selling in 4 hours. As long as we do not see a candle close below the 2890 level, the uptrend will continue. The 3830 and 4027 resistance zones have become crucial after the hard sell. If there is a resale from this region and a candle closes below the 2890 level, a downtrend may begin in the medium and long term.
The medium-term Harmonic has dropped from a level very close to the CRAB Pattern formation to our main support level with a hard sell. It was supported for the 3rd time from the 1.0789 and 1.0425 support zone that we mentioned before, and the candle did not close below the zone. If the candle closes below this zone, the downtrend will be confirmed and the 0.9300 support level should be followed. 1.21 to 1.40 resistance levels should be watched on the ups.
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