Having broken the 50 and 100 day moving averages, BTCUSD now is headed downward to the 200 day moving average. The 200 day MA and current price trend will converge at the 61.8% Fib Retracement. This will be a very powerful convergence that, in my view, will create the bottom that is needed for a major price reversal.
Comment:
The moment of truth has arrived...convergence of 200 day MA, price and 61.8% fib retracement. Very important that price holds and reverses at this level. Otherwise, next major support is 4400 at 78.6% fib retracement.