Technical Analysis (BTC / USD) "Let's put on our belts because we're going down to the ground" in the next few weeks.

This week closing in the BTC price we are still below the fast EMA, as we can see in figure (1).

Currently we are within the "major" bearish channel, we see it marked with green lines, the channel support is located at $5400, something to take into account is the bearish peanut that has formed during the last 7 candles, when looking at the volume at the bottom of the image we see that the volume is coming down, this is an indicator of the downward direction that follows the Bitcoin.

Figure (1)

In the figure (2) I have indicated inside the blue rectangle the support marked in the $4528, after doing the analysis in temporality of 1 week using the fibonacci I have been able to determine this support as the floor of the downward trend of this cycle, I have indicated it with vertical line red color on December 10, 2018, this agrees with the EMA long pink color that we see below.

Figure (2)

The candles in figure (3) are based on 1 month temporality, in it what we can observe are the last 3 bearish candles that have been situated below the resistance of the bearish trend respenting it in several points during the route.

Figure (3)

As a conclusion, I can say that the month of November will be a strongly falling month where the floor of this downward trend cycle will be determined for the first fortnight of the month of December, I recommend that we "put on our belts because we will descend to the ground" in the following weeks.