After breaking down from a recent it is now decision time for Bitcoin to print another low. The question is whether or not it will be a higher low in the short term.
Failure to print a higher low could result in a further drop and more continued macro sideways movement. Whereas printing a higher low may assist the price to push higher and have another crack at early 40k prices.
It will be interesting to see if another attempt at the early 40s will surpass them, or if we will get rejected again.
Also as a side note, we recently got supported by the 0.5 fib retracement which is a good sign.
With the current market sentiment, I am expecting further sideways movement for a few more weeks or months. But my opinion doesn’t dictate the market’s movements.