$BTC Descending Triangle Formation - Breakdown Target - $37,500

BTC is in a downtrend on the weekly, daily, and 4H time frames suggesting more downside to come. If BTC breaks down from this Descending Triangle formation, the measured move would take price down to $37,500.

From there, over the course of the next couple/few weeks, I believe we would see further continuation down to the low $30K range, then a nice bounce.

I believe BTC will see more immediate downside if it prints a 4H or higher time frame candle below the prior 4H low and horizontal support zone at $40,700.

We can see RSI and Stochastics are simultaneously breaking their relevant trend lines... maybe no bounce before a breakdown.