In June, after bottoming out, we recovered very quickly to near the 0.78 Fibb levels, in which we lost steam and tumbled down.
While it has taken 1+ week in order for our trends to play out (from bottoming out, to recovering to the 0.78 Fibb Level), seemingly trends are playing out in about 1/3rd of the time they did.
Looking forward, I expect BTC to test the 4370-4450 resistance one more time (at time of writing this, we are currently attempting to recover from the sell off at 2am EST 10-3-2017. If it continues to fail to break the resistance, I expect an even harsher sell-off as panic sets in for retail investors that have fallen into this potential bull trap. At that point, I think over the course of a few days, if BTC is unable to maintain support and break past resistances - I do not think it is by any means crazy to consider that we have a July correction on our hands, and we're heading back down - this time the target bottom being the 2400 price level that the signaled at the end of the July correction.
I personally will be sitting on the sidelines until I see without a doubt which way this market is moving. I think we are in no man's land until we see a definitive movement up or down. This is my personal opinion, and I am by no means an expert - so please take it with a grain of salt if it goes against what your charts say. At the end of the day, we have to trade our chart. Every day should be a new learning experience.
I greatly appreciate any comments, constructive criticism, advice, suggestions, etc.