Long Term Trendline, The Worst Case for a Healthy Correction

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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Wow, this one is really sad. This trendline worked as a support/resistance up until the current bull market that started in October 2016, from there on we went on a ballistic move up and are now correcting.

If we really need a correction to destroy everything rubbish in the market, we can go as low as 800 USD ACCORDING TO THIS LONG TERM (2013) TRENDLINE .

To be honest, I wont place any bets on this, because that'd be a pretty drastic scenario that'd I'd bet on, and it's way too early to forsee such a correction coming.

But it's there to warn of how deep this correction could go and still be seen as healthy!

Again, Dont place shorts NOW because this could happen XD (no financial advice), it's just ne scenario, the most extreme one in fact (for a healthy still correction)

Don't forget to like if you found this helpful (or scary :)) )
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