The highway to heaven leads through hell

As you can see on the chart, currently Bitcoin has broken down through the green trendline and found temporary support at the top of the grey channel. In my opinion, a retest of the inverted Cup & Handle pattern will occur within a few days. In turn, this will trigger a sharp bounce downwards and reach the second correction target, which appears to be at around 17K at the bottom of the grey channel. I think the next move will be a slow climb towards the blue trendline. However, this will end for Bitcoin with a final fall to the red trendline near 13K. From this point, the price should start heading upwards already forming an inverted Head & Shoulders pattern along the way.

The above analysis is just my personal opinion. I will be glad if you find it helpful. However, do not take this as financial advice.