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.
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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
@archonalarion, This site has a trade updates section. You can see it right under the main post. You'd have scrolled past it to get here to comment. It was a buy with a target of a parabolic leg, to this price.
Secondly, grow up. It's just a market.
BitAlt
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@holeyprofit, Nobody doubted that you'd have a second opposite prediction ready to go.
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@BitAlt, There'd really be no reason to doubt that. Being stubborn in the market is a foolish thing to do. And now I think we're in the end of the bull trap. Where arrogance peaks.
@BitAlt, You're following a stranger around the internet to tell them you know better than they do. Think about it.
The price right now is 51,850 - for the purposes of record keeping. This is when you've chosen to come and tell me I am wrong. Price has been rising for a few days, but you're here now @BitAlt. Let's see how that goes.