BTC Update

BTC broke out the triangle to the downside which indicates that bear trend continues. We received much good news in the last couple of days like Bitcoin can be used as legal tender by EI Salvador's President and Micro strategy raise 400m in debt to acquire more bitcoin. But BTC did not react on this news which allowed bears to take control over bulls.
In the 1 day chart we can see support on Green belt around 30k. Bulls can try to accumulate this zone again and try to push price up side. Daily closing below 29k will allow bears to take control for further correction till 20k.
If BTC finishes with a candle below 29K in the coming weeks then it will formed bearish head and shoulder on the longer time frame which can push this market into a long bear trend.
Important point is 300 daily moving average at $32030 which can give a support to market.
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