Bitcoin continued to decline as expected yesterday, having broken through the mid-term trend line, further confirming the downtrend.

Currently, there are no signs of a stop in the decline, and it is expected to continue falling. The short-term target for the decline is at the 80-day moving average, which basically coincides with the upper boundary of the support box in the chart, and it is expected to provide short-term support.

The mid-term target, which is the endpoint of the fourth sub-wave that concludes the inclined triangle, may be at the 360-day moving average. This support line played an important role in supporting prices in August and September of last year, as well as in April of this year.