BTC is now getting into the major test levels. This is where we'd be most likely to find support and if we did we'd probably be looking at 52 - 53K before we wanted to short again (After a parabolic move) but in the near term downtrend patterns are holding and a break currently looks more likely. If we break here, the head and shoulders comes into play. It can be fast down to the 161. What happens there becomes really important.
BTC under 46K is probably a warning of BTC under 25K to come.
BTC under 46K is probably a warning of BTC under 25K to come.
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This is probably going to fail and become a butterfly pattern. 52K will likely trade.
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Update on expected failure of the head and shoulders
