Where that bottom at? So foggy I can't see a damn thing lol.

Hello everyone. Like I said earlier, we will not be seeing BTC under 5K in the midterm (fingers crossed). So here is the short term game plan. As you see from the chart we will go down as anticipated. First we will probably bounce off of 6200, then revisit to 5950-6050 area for another bounce that would more likely to take us out of this downtrend channel that has been established since December. Giving the reaction of the second bounce will be quite violent, it will give BTC enough momentum to smash downtrend resistance line in purple. If you notice the distance between this downtrend line and the price of 6K area will be very small that will make it easier to establish new uptrend.

Note: There is a wall like a Chinese wall between 6200-5500K area. If and when that walls taken out than just pray.

Comment:

Very interesting price action ATM. Seems like bears ran out of stem or what? Low volume and gradual selling off may have created this situation. I would not surprise if we bounce from current price range.