BTC FEB 6 2018 More Pain For Bulls

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I expect BTC to bounce and trade sideways on the lower trend line its beneath at present prior to moving lower to the 4000 level and 100% FIB. With that said it is possible we somehow could also be on or at a bottom but little in price or volume would support that view. Taking a position here If you cover it with a stop loss at around 6000 may be a good entry if we do not go lower as I expect. It would at least not be a bad trade to try it. With Wallstreet diving it is likely that will just add more selling pressure on BTC as panic follows panic in markets. Lets see what happens with W-street today and perhaps we can get a better outlook on BTC . Currently, I am just not seeing anything in the charts suggesting this is a bottom for BTC . Good luck and keep your stops in place.
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