Bitcoin / TetherShort
BTC USDT Price Action analysis
Updated
From the weekly timeframe, you can see how price is currently being rejected from the resistance level which gives us a bias of a head and shoulder pattern in formation, so by the looks of this Bitcoin is headed to the 
42K support area and if price fails to hold that level, it could be headed for the bullish order block at 33k annotated with a blue shaded rectangle, and if that fails also we could have $28-
29K all over again.
Summary: We're bearish and the possible areas of rejection are:
1) 39.3k -42K (support area)
2) 31.7k - 34.2k (bullish order block)
3) 27.2k -
31K (support area)
42K support area and if price fails to hold that level, it could be headed for the bullish order block at 33k annotated with a blue shaded rectangle, and if that fails also we could have $28-29K all over again.Summary: We're bearish and the possible areas of rejection are:
1) 39.3k -
42K (support area)2) 31.7k - 34.2k (bullish order block)
3) 27.2k -
31K (support area)Note
Perfecto... The bullish order block held perfectly.
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