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Bitcoin headed to Lower Range on the Daily

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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The slow downward grind BITFINEX:BTCUSD is taking longer than I expected but we are still headed for lower prices. There will no doubt be some bounces during this drop to low 5K numbers, but we will be in a new lower range to trade. March 27th, 2018 was only the 5th day BITFINEX:BTCUSD has closed below the purple line of $7905 since November 14th, 2017. Hold on tight, we are going down.
Mar 29
Comment: We are still going lower into the range. We are beginning to be oversold on short timeframes. Still room to go on the 12HR , Daily and Weekly.
Apr 03
Comment: We made a nice round bottom last few days looking like a trip back up to the $7905 purple line. Be careful. It's a perfect bull trap curling under instead of a true V bottom. We still have room on the indicators to move up but I believe that we will not reach 8K again for a while. Still looking for the 5's to hit.
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