Top Highlights

• daily chart, the price has been blowing past resistance levels one by one. Yet, today’s action has been very bearish, as the daily candle looks very bearish. The price has dropped around 10% today before rebounding from the $40K support level.
• holds, it could initiate a rebound, and the market might rally toward the next significant resistance level, which is located at the $48K mark.
• a bearish breakout could result in a drop to the $38K and potentially the $31K zone.
• The 4-hour chart demonstrates today’s decline much more clearly.
• double top pattern around the $44,500 mark and proceeded to plunge toward the $40K zon

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