probably a bull trap is forming (bearish elliot+patterns)

37k is key level support and 48-50k is a massive resistance, let see who wins, elliott wise this is the most probable count, BUT not the only one, i have shared below 2 most probable counts

price actions wise, we have broken down from our 2 rising wedges, and we need to retest before falling down further

rsi has been showing weakness on daily as well since 37k approx

Commento:

bullish count if we get rejected from 38k

Commento:

bearish count