BTC Eyes Lower Break

Bitcoin continues to trend lower, testing support at $46,000. BTC has visited this level numerous times, which coincides with the 200-day SMA over the past week. At this stage, the lower trend line of making lower lows is very likely to break. If that happens, Bitcoin price could drift to $43800, fib 0.786, breaking the current support of EMA 20 and 50. The resistance level we have here is at the upper trend line of lower highs at $49500, fib 0.236. Bitcoin might get very volatile as the weekend and year end approaches.