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Hello TronFanClub community's! Here a technical analysis of Bitcoins current price action.

After a bullish rally Bitcoin is currently consolidating with little momentum and showing bearish signs. The crypto currency attempted to surpass the crucial $25K resistance level but experienced a significant drop and formed an ascending three drives pattern, a wellknown bearish reversal pattern at that level. Additionally, Bitcoin has dropped below the 50day moving average, delivering a general bearish bias for the cryptocurrency If the price continues to plummet and breaks below its prior major swing, a bearish rally toward the critical $18K support level will become more likely.

On the 4hour chart, Bitcoin has formed an ascending trendline acting as support to the price. The recent Silvergate and binance FUD has led to a significant decline, pushing the cryptocurrency down toward the ascending trendline. If the trendline is broken, Bitcoin could experience a midterm shakeout, flushing out many long positions in the futures market. Currently, the levels of support are in the $21.5K and $18K regions.

On chain analysi indicates that a considerable number of stablecoins have been deposited to exchanges possibly indicating that participants are ready to inject sufficient demand into the market and push prices up when the time is right.

As always, its important to conduct your own research and consider each scenario to control your risks. This information is for educational purposes only and should not be taken, as financial advice.