According to the elliot wave theory, FX:NZDCAD. is at its correction phase, and using the fib extension we get T1 for the small ABC wave and T2 for the bigger wave; T1 is short term while T2 is mid/long term
Another thing to keep in mind, is that China is expected to report on Monday that economic growth cooled to its slowest in 28 years and this means that CNH...
At first, a Gartley pattern was forming but it got violated and then we got its extension which is the Bearish Crab pattern and
after a Fib retracement of the last wave we find the targets in 0.382 and 0.618 levels.
We have a nice risk to reward ratio with a stoploss slightly higher than the swing high of CD wave
I don't think that the bears pushing the price down want BTC to fail ,whales are just trying to get cheap BTC so BTC won't dump below 6600 because if that happens the structure will be broken .
Also the MACD show a divergence that's means the end of the current trend (bearish trend) and also the Stoch RSI is looking oversold that's why I think BTC will rally soon !