Batrachotoxin

BTC does correction, where to catch bottom?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BITSTAMP:BTCUSD

After 5 attempts trying to break resistance line, BTC broke down the ascending triangle pattern this morning and dropped down ~4% to $7,580 area (which is both Fib. 14.6% and Pivot line).

Most of indicators on daily chart turn to bearish , as predicted on last analysis, BTC might drop down more to below stable supports including
$7,140 | $6,800 | $6,414. If $6,414 supportance can not hold BTC will dump to below $6,000 and clear all bullish gain last month.

In overall, this correction is needed and healthy for next move of BTC , BTC holds bullish momentum on higher timeframes.

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