We got correction. With a shortened wave of C (0.618 from AB waves).
Marginal operators helped us a lot, all positions have developed like dominoes. We have already seen this more than once, for example, in 2014, when at one of the exchanges, the price fell from 700 to 100 in a few minutes.
Add panic to other financial markets, closing borders, stopping production, and the damn virus. Perhaps we are on the verge of a new financial crisis.
Now about bitcoin .
I think that we do not have the right to fall below, but there is a possibility, maybe we will see a price below 3850, for example 1800, 1000 or even lower, but what I will say for sure, if we fall below the last low, we have big problems, this end of the free money project. At least for many years.
The positive scenario is to grow above 7800, when we overcome and gain a foothold above this price, we can say that the bulls are back in the game, this is their time.
<Fibonacci channels were drawn long ago, but I didn’t use it, so I don’t have it anywhere. It's all about the human brain, he never wants to use an option that is disadvantageous>
If we still hold the current low, then we should wait for a quick recovery, I do not think that there will be debts of the month of accumulation, for the reason that you should have already bought.
And the last
I call Mr. Satoshi, and he say: "Keep calm"
will be powerful
target must be ~ 6800-7900
perfect ~ 6800
If the weekly candlestick closes above - 9300 today. Forget about it.
And one more thing - most likely, there will be no correction - we unloaded with the help of flat.
National currencies - lose their value.
Bitcoin - show them who is king.