BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The exchange rate reaches the 4268usd level defined by our previous analysis. We expect a short correction from this level to 4700 usd. What is currently shown in the technical image? Exchange rate D1 fractal points triggered a greater decline. The "peak axes" of the fractal points are parallel to the fractal points combined with the distance ATR with the wave axis (green line). From this it seems that the exchange rate is declining, but it does not accelerate. We expect the falling exchange rate to reach the bottom of the wave axis. But until now, some corrective rising waves may emerge. The main direction is still decreasing, despite a few days rise.