farmdve

Possible retracement to 5450?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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After we couldn't stay at or over 5800, the next logical step is a retracement to 5450, I've marked in red the previous support, which is at a fibo level, so a strategic level. There just isn't any new news to cause it to go higher and it seems to me bulls have run out of steam. Not to mention there is an impending fork(again) where the coins essentially double, makes no sense for price to go higher due to that, cause people will sell their coins for BTC (provided there is replay protection), dump them and still have their original BTC intact, free money.

Of course as always, it isn't exact science so I could be proven wrong.
Comment: The market moved more or less as I as thought it would, however completely blowing 5450 out of the water.

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