Hi, i will make it simple in this chart. On the 1-day chart we see BTC
bounced from the 61.8 retracement level, witch is an important level, when we are under this level it is a bearish
sign! Above this level we could say market is moving to bullish
but in fact we didnt do this we will go downer now.
IF we hit the 8234 level, witch you can see at the orange line by today we will move downer from there and
will form the C of the bigger elliot
correction waves, witch will bring us to around 4500 USD/BTC.
Please look how this chart plays out ;)
Thanks and good luck with your trades.