So far this correction is pretty much a copy and paste of what happened in 2014 in regards to fib retracement levels. The wedges and resistance lines in this down trend have been very consistent and vivid. Assuming it will follow a similar pattern, we could see a push to around 16k followed to by a bleed out down to the lower support line of $4,500 before recovering again.
very strange..why it will go down after reaching 16k as it have many support levels very strong in betwwen the fall..if it have to go down then this is time upto 12k or from 10k..then can fall to 4k and then up
jamikr
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@ghose12, wait you also think down to 4k? i think this is wishful thinking but maybe i'm missign something. i was still waiting for a good dip and now i think we are past it. but who knows!
Zakir-Ahmed
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@jamikr, see 4hr have golden cross this means bullish...50 ma crossing 100 ma