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As seen on this chart, we have two bearish confirmation that price will fall more to $31,000.
Firstly, we have a downward trendline breakout and a pullback as shown on the chart.
Secondly, we have a rejection at the trendline of the descending triangle.
After the first bounce, price dive into the falling wedge and finally made an upward breakout to the trendline and eventually got rejected by the trendline.
Therefore, with price at the current market price of $42,474.41, I expect a fall by 37% to $31,000.
What do you think?
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Likely move for Bitcoin to dive to next support at $38,000
I see you’re using the Binance.US platform so I’m wondering how you’re able to short crypto. I’m wanting to short sell but I thought US citizens cannot short crypto. Please advise. Thank you. And thanks for the chart.
@PetrockFxTrading Ah, ok. Dang, I hate only being able to trade one way.
PetrockFxTrading
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@Walter_White_2021, Sorry about that. Maybe you should try another exchange apart from Binance
Walter_White_2021
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@PetrockFxTrading I’ve been looking for another exchange to short from and had no luck. I went onto Kraken this morning and the option to short isn’t there. I watched a clip to figure out how to short on that platform and the option just isn’t there. So then this morning while Googling I found out that it is illegal for US citizens to short sell crypto even if they’re living in another country. Ugh…