AFter BTC has left the very long sideways trend (rectangle) it has fallen down, crossing several supports and rebounding beyond my last expiration. I´ve thought it would stop within the yellow circle 1 - but it didn´t.
In the case BTC would have found its bottom, then i can figure out that a new motive direction would now take place as shown with the circles 1 to 3.
On the other hand, if the negative trend hasn´t found its bottom yet, a conitues fall to the very beginning of the last rally in 2017 would be possible. Fib retracement 0 is on 1.900$, another loss of approx 50% from today.
What I expect in the next few days is a consolidation (see RSI and Bollinger Bands). And then ... we´ll see.
Fundamentally I believe in Bitcoin (classic).
"No trading advice"
In the case BTC would have found its bottom, then i can figure out that a new motive direction would now take place as shown with the circles 1 to 3.
On the other hand, if the negative trend hasn´t found its bottom yet, a conitues fall to the very beginning of the last rally in 2017 would be possible. Fib retracement 0 is on 1.900$, another loss of approx 50% from today.
What I expect in the next few days is a consolidation (see RSI and Bollinger Bands). And then ... we´ll see.
Fundamentally I believe in Bitcoin (classic).
"No trading advice"
Trade active:
If it´ll turn on that point BTC could enter the long motive wave 3 and this could lead the price up to the fib retracement 23.6% on 6.270$, at least to 5.460$.
RSI has crossed the long falling trend line to the bottom and is reentering the neutral zone.
MACD in negative terrain and about to trigger the signal line.
So, indicators are confirming the little correction - without triggering the panic button.