BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
In 2014 bear market, when BTC found new lows it retraced 0.618 fib and continued to go down again again.
After It settled around $160-200, 1 year accumulation period started. (January and October 2015)

It created a new bullish channel at the end of accumulation period (Green channel)
Until Bitcoin reached $20k, all of the retraces (7 times) found support at 0.618 fib.

If we found support at 0.618 fib ($12.347) we could say that bull trend still in play. Now trend turned bearish like 2014 market.
After the first low at $6k, it retraced 0.618 fib ($11.350) and rejected again.

I think we are ready to find new lows before start a new rally. Potential new low should be around $4500 then we can go and test $11k again. (0.618 fib of new low)
When we draw lines (blue) from the 2014 top to the tops of 2017 trend (Pink channel), you can see the supports around

$9800 (broken)
$6400 (still alive)

In the current bearish trend we also have descending broadening wedge and big falling wedge .
why don't i get the same answers when i pull my fibs from 162.30?
Amazing analysis. Thanks Ben - you genius
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