Since the parabolic rise this year, BTC did not retest the longterm support line.
We have tested 1800 twice, 2450, 3000 but not the longterm support line ( varying 1300-1500)
Personally I do not want to believe it nor I want this to be happening. It causes loads of investors and the crypto community lose trust in BTC . However, what goes up must go down..? With the recent "war on crypto" by bankers ( JPMORGAN for example) and the government ( CHINA) can justify a drop quite easily by timing it after Wave 3 ( red line) caused for a deep wave 4.
Would 2018 be a big correction year for BTC? Will bad news justify the big correction? It acts like a final push for distaster.
We have added 2 related ideas from HamadaMark because I have been following him for a while and his analyses makes me think about the open "gate" of 1300.