#BTC has room to drop here and I explain why

In a nutshell, Bitcoin is currently in a short term descending broadening wedge pattern. The daily Ichimoku cloud has turned bearish after the bearish Kumo Twist I have highlighted. Furthermore, Volume profile shows that the nest level of support is at the 50k price range. It will be extremely hard for bears to break below 47k but it is not impossible. Let's face it anything is possible in crypto. But in light of recent current events including the increased concern over the omicron covid-19 variant, and the fact that the Fed chair just declared an unexpected early easing of Fed bond purchases and we have both technical and news driven psychological factors that are pointing towards a decline in bitcoin price in the very near future. Trade with caution if you trade at all. Just my analysis. Not financial advic