Bitcoin Currently Above Support of Ascending Triangle

[BTC_Mouse]

It is currently above  support of ascending triangle, where EMA'S are acting as a resistance,. Breakdown of the ascending tringle is a bearish sign for the market, while a bounce from here and breakout of ascending triangle is a bullish sign.

BTC/USDT CHART

[tbct_mt2]

Will Bitcoin has a massive capitulation? I know it has been moving into its bottom range for this correction. I also know the fear and greed index supports the idea to buying the dips, doing DCA but how about a final capitulation?

According to the chart as well as history, capitulation is very necessary to end bear market, correction after which Bitcoin will have very strong rally and even growth to new all time high.

[el kaka22]

I do not believe that we are ready for either option just yet. I mean it could show like that in the chart right now and I respect that. However, lets be honest and ask ourselves how many times did crypto actually do what we expected from it? Just because a chart shows that doesn't mean that it will do that. Which is why we should be a little bit more careful.

I believe we could bounce from here and go towards 42k once again, that seems like a likely option for the time being. However, I am not expecting it to do anything other than that. It will probably just go up and be there and that will be the end of it probably. Could even drop back under 40k again after that.