The upper orange curve has been used as support for serveral months and acted as a resistance after the first drop to 30k in may.
Recently it broke it and went a bit above, but came crashing down again. What formed through this process, is what you see here:
The orange triangle.
In my opinion, the price will stay in this triangle for a few days. After that, one of two scenarios may occur.
In the bearish scenario, the price falls to the horizontal white line. If the price again falls below it, I suspect that it could fall further.... up to 30k.
In the bullish scenario, the price breaks out of the orange triangle on the upside, but you see a blue curve there that has acted as a resistance over the last few months, so I suspect that the price will not go above it, at least temporarily, should it get that far.
NFA.
Recently it broke it and went a bit above, but came crashing down again. What formed through this process, is what you see here:
The orange triangle.
In my opinion, the price will stay in this triangle for a few days. After that, one of two scenarios may occur.
In the bearish scenario, the price falls to the horizontal white line. If the price again falls below it, I suspect that it could fall further.... up to 30k.
In the bullish scenario, the price breaks out of the orange triangle on the upside, but you see a blue curve there that has acted as a resistance over the last few months, so I suspect that the price will not go above it, at least temporarily, should it get that far.
NFA.