$BTC likely to be bearish till 21st Jan, until new bull cycle

Trend analysis and ideas based 2017 price rally. IMO BTC is very early in this bull market; thus 1-2 weeks correction of 38% is much needed for price rally to continue. In 2017 we witnessed over 6 times 1 to 6 weeks correction trends with 30-38% drop in price. Thus in this chart, 38% looks like a sweet spot to hit within the next 10 days. New bull cycle starting up from 21st onwards.

In the 4-hour chart, BTC continues to stay in a downtrend channel.

If 30k price support is broken, we will likely see quick visit at 25k, while 19 - 22k is extremely unlikely to happen, it's still possible.