BTCUSDT continues its downward trend on the fourth day of the week, surpassing the psychological support level of $40,000 and trading around $39,600. The strong support for further decline is evident as it trades below both EMA lines and shows a clear reversal signal from the EMA 34.
On the chart analysis and using Fibonacci, there is a possibility of creating a DOW after the correction phase has taken place. The low point below the 1.618 level (which is around $35,100) will be the first profit-taking opportunity for sellers at the current time and in the scenario mentioned above.