BTCUSD Bearish Continuation

From tickmill.com

Price is abiding to the descending channel, signifying bearish momentum. We can assume that price would push further down from the pivot level in line with 38.2% Fibonacci retracement towards 1st Support in line with 61.8% Fibonacci projection. Alternative Scenario: Alternatively, price could bounce up from pivot level towards 1st Resistance in line with 78.6% Fibonacci projection and 38.2% Fibonacci retracement.