The bearish case for Bitcoin

Bitcoin is currently forming an ascending triangle on the daily time frame. This is a continuation pattern suggesting that Bitcoin might continue its descent towards the next support level. Personally, i believe 20K is the next strong support level. There are others before 20K but i see 20K as the strongest one for now.

Volume is also very low thus making it hard for the formation to break towards the upside and re-start the rally towards the next resistance.

Lastly, 50MA about to cross 200MA. At this rate, a death cross will materialise within the next few days or so.