I have mapped out all the fibonacci, trend lines and previous price action to come up with a target around the 52.5 to 53.5k range as the ultimate target. I do believe we are doing a descending bullish wedge of some sort and that can turn into an inverted H&S as well. Look at the macro outlook and you will see some key points.
@trytofeelpositive, thanks for sharing. I do like your idea and it has alot of reasons for it to be a strong support area. eg MA, fib, and structure. However I also feel that 52K will benefit the whales and big money. Fear factor and leverage trades are too high and I think these need to be pegged down more for it to go bullish. I bought here and if it drops more, I will leverage in at my chart as it suggests.