BTC may reach the given target sooner than expected. The ultra-short term fibo fan shows how the drop has been accelerated and this may take it to 7800 zone at any time from now. Big buy walls are set in all exchanges around 7700-7900, that zone is where the big whales are. Volume is also increasing as in previous bottoms so we might face the end of this drop in a matter of hours. Get ready your fresh USD or HOLD whatever you have right now!
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As an obvious comment, BTC price will rise significantly and definitely once the bottom is reached :)