Bitcoin / TetherShort
BTC headed down to $41733?
BTC is nearing the end of a symmetrical triangle. The opening of the triangle was 3.8% so we can expect a drop of about the same amount if it breaks down. That lines up with where I thought it would be in my March 29 idea:
It's a day and a half late but falling as I thought it would so far. Since it's later than expected, it may stop at the trend line for the main channel at $42000, but more probably will fall the 3.8% to $41733 and rebound to the slightly higher support level and main channel at $42000.
Of course it's possible we could see it break to the upside instead and test the top of the descending channel, but it sure looks bearish to me.
NFA
It's a day and a half late but falling as I thought it would so far. Since it's later than expected, it may stop at the trend line for the main channel at $42000, but more probably will fall the 3.8% to $41733 and rebound to the slightly higher support level and main channel at $42000.
Of course it's possible we could see it break to the upside instead and test the top of the descending channel, but it sure looks bearish to me.
NFA
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