As you can see (marked in red) the last time BTC was that oversold in Aug 2015 we just made a parabolic move/v-shape out of that dip.
It highly seems that we are encountering that pattern again. RSI was just massively oversold back then on the daily. (As it was now) And this also applies for other cryptos such as EOS and BCH for example. In August 2015 we spiked...
As u can see we are still on track in longer term bull-trend. As others have pointed out on Trading View already, BTC is repeating it's previous bull fractal in a reversed form, which projects a aprox. bottom at around 2500 to 3500$. Thus I'm expecting it to hold the lower support-levels in this fib-resistance-fan.
I don't even try to dare to predict a possible...
In chart-terms we found quiet strong support, if it holds, what it probally will, we will see a steady up-trend in the next months.
Once they roll out the cards and release "the so far unreleased product-fetuares" we will see a massive upside im my opinion.
Buy the Rumors (NOW) and sell the news (may in 6 month/according to your trading-plan)
Price was in cosilidation on the middle-Fib-Resistance-Fan-line. We broke support on the middle level and fell back onto the 75 Fib line.
IF support holds, the marked area should be a good re-entry. if not, re-entry should be considered in the Fib-Levels below. (0.618 or even 0.5 if BTC keeps rising as it is.