Dangerously down, BTC just broke a support that shouldn't have been broken, it happened yesterday and the only way to come back to up trend is to return to the up channel within 48hrs ! -Now it only remains 36 hrs. Why ? Because many algorithms trade within 2 daily candles in trend, therefore if in 2 days this is not back into the upline, you could expect a deeper low, not seen in 1 or 2 years yet.
Whatsoever, here I put my view, it will be invalidated if in 2 days happens what I said above.
Good luck,
Thor
:)
Trade closed: target reached
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30 days later this target is achieved. Time frame is also accomplished almost perfectly.
Now there is big warning here, if price doesn't hold over 5400, I could see BTC dropping down very low, somewhere around 1500, where the price was in DEC 2016 before all this mess started.