BTC has fallen to the April monthly pivot point at $39,500 and bounced up to test the weekly S1 support pivot point . It was rejected and after a stop hunt up to $40,693 it appears to be headed down another leg.

This is what I predicted in my March 29 idea:

https://www.tradingview.com/chart/BTCUSDT/awIW3Zfs-BTC-73k-by-summer/#tc8330830

I think we’ll test the weekly S2 support pivot point at $38,344 which is also the top of the triangle (blue) that BTC was in from late December until it broke out in late March.

We’ll probably see a small bounce there before heading down to the bottom of the triangle (blue) which is also the March monthly S1 support pivot point .

I anticipate the bottom coming in around $36k before we get a serious rebound, but it may happen around $37k as we hit the bottom of the main channel (grey).