Hey everybody today I will be showing you my thoughts of BTC. Sadly I don’t really see BTC going up anytime soon. It seems we are still in a corrective wave. We started to form an impulse wave, however we had a failed wave 5 and are starting to form another corrective wave. If you look at the MACD you can see an attempt of a cross over but it failed, this shows we are still heading downwards. In addition, This failed wave 5 looks somewhat similar to what happened back near the end of February to the beginning of March. So I think wave a will end around 7100. This is where the 4-1 gann fann line, pitchfork support line and the fib retracement line meet. From here we should see a small b wave which would be around 8,000. This is because it would hit the .618 fib line and the trend line from the previous b wave hits that point. Finally we will continue to downtrend to 5900. This will form a double and hopefully from here we will have a nice impulse wave. BTC is clearly still in a downtrend and needs some help to help it get out of this.