Is BTC still heading to the baseline support?I still think BTC is heading to the baseline support around 12k, I am talking about further down from here below capitulation, moving further into desperation territory, followed by a long consolidation period.
Why? because the downtrend haven't changed yet, together with equities cryptos are in a bear trend IMO.
Bearish points: The 50ma has just crossed above the 200ma, RSI also showing contraction in overbought territory.
The speed of the downfall has changed, but not the direction IMO.
Watch out.
