We're going down in a trend of downward movement - BTC

Good Morning,

Thank you for reading this update on the crazy wild world of Bitcoin. The BIG question is, how far down will we/can we go???

So, looking at the current charts and comparing all the way back to our peak in mid-December, we see that ever since we have been and are currently still in a downtrend. Yes, we have had moments of hope and thoughts of when we would see the 20k number again, but what goes up must come down, and currently we are still going down.

If we look at the current charts we can see we were in a strong trend of upward movement above the support level. When we fell below this level it has acted as resistance and we were in a trend of downward movement. Currently we are seeing this line show us resistance as we are below this signal line and probably going to continue in downward movement.

Also, the MACA has crossed over and showing bearish signals. With all of these signals together we can say this is a pretty solid indication we are going way down.

So still haven't answered the big question.
How far will we go?
Looking at support zones and resistance zones I can say for certain we are going down for the moment , and displayed with certainty the downward channel we are in. I will remain bearish on Bitcoin until we can break out of this down channel.

For now, I'm on the sideline, watching and waiting.

If I get lots of votes I will post some chart updates!

Thanks and have a Happy Trading :)