BTC may drop now to the bottom of the golden pocket and beyond

The type of dip (descending arch) we are seeing on the hourly often has a sharp fall to follow. If we look at the last descending arch it was the last time there was a major dip. Following that we can estimate where it might fall to and take out a long position. For now it's a short.

The first drop might bounce from the bottom of the golden pocket, which is also the weekly S2 and the bottom of the forming triangle, providing us with some confluence. A bounce to the upside would probably see it reflect off the top of the golden pocket / weekly S1 and make its way forther down to find support again at around the 29k mark.