If Bitcoin loses 40k, it'll likely move down to test this daily support level between 35.5 and 38k, with measured targets around 37.7k and 36.2k which suggest it may hold that support level, possibly holding the top of it if only reaching bearish TP 1.
Alternatively, if it holds above 40.7k and sees a break and hold above 44k, Bitcoin will sooner see a move up towards 50k, with initial targets at ~47.6k and then ~49.5k.
Should the bearish scenario play out, I would expect it is just a correction and not a sea change.
On the longer-term chart, we could drop pretty far and remain bullish:
Alternatively, if it holds above 40.7k and sees a break and hold above 44k, Bitcoin will sooner see a move up towards 50k, with initial targets at ~47.6k and then ~49.5k.
Should the bearish scenario play out, I would expect it is just a correction and not a sea change.
On the longer-term chart, we could drop pretty far and remain bullish:
Trade active:
Bitcoin broke above 44k, and should be headed towards 50k if 44k can be held on re-testing here:
