Yesterday I said watch the roundies for resistance and failure and BTC
failed on the 12000 resistance. I think the bullish
move yesterday was all tether related as people moved out of tether into BTC
and others like ETH expecting better safety. Today you can see we are breaking down on a 5 count triangle in blue. Below is a long term trend line
which should be pretty strong support at around the 10400 level. I am expecting BTC
to drop and test this trend line
. I also expect it to test this trend line
more than once before it breaks through but it could do it on news at anytime or FUD of the tether issue. Overall, bad as I hate to say it BTC
is in a strong downward correction since 12.18.2017 and it seems we are going to see lower unless some serious news breaks to get us moving up.
Good luck and keep the stops in to minimize any losses.