BTC Heading to $29k?
As the selloff since Nov 2021 continues I'd expect to see a retest of 
29K where there's quite a bit of support. Historically when the 200D MA is broken for the first time in a twelve month or longer period we see a correction of about 20% to 50%. As of this post BTC is already about 20% below that 200D MA cross. With the slowing negative momentum (see RSI at bottom of chart), and nearby support at 29K, I'd look or price action to stabilize around those levels. If that level fails to hold things would look much more bearish, as the next level of meaningful support would be 20k (previous peak of Dec 2017). Additionally, another potential bullish case would be an upward break of the current trend (downward white dotted line), and reclamation of the 200D MA.
29K where there's quite a bit of support. Historically when the 200D MA is broken for the first time in a twelve month or longer period we see a correction of about 20% to 50%. As of this post BTC is already about 20% below that 200D MA cross. With the slowing negative momentum (see RSI at bottom of chart), and nearby support at 29K, I'd look or price action to stabilize around those levels. If that level fails to hold things would look much more bearish, as the next level of meaningful support would be 20k (previous peak of Dec 2017). Additionally, another potential bullish case would be an upward break of the current trend (downward white dotted line), and reclamation of the 200D MA.
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