Bitcoin - Looking for a bearish break
Updated
Seeing price rejected at the 48.2k level and what looks to be a bearish flag forming could see BTC break downward towards 31.7k. This would complete a lower low of its WXYXZ correction and set the stage for price appreciation.
Comment
A bounce off the bottom of the channel structure. A break below the channel from here, under 38k, brings into focus the 0.618 retracement level at 31.6k as a possible bottom, with 
27K below that at the 0.786 level. Will need to monitor the structure of such a decline to assess if we have seen a final capitulation event or not.
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