It looks like BTC is forming a bottom whether to stay within the consolidating horizontal, but bearish, flag. If no break out follows - probably to lower levels under continuation of the bearish trend - then we will see another (number of) zig zag(s). As long as we are in the horizontal flag it could go both ways... the flag becomes the bottom or the trigger for...
As you can see - and as predicted in earlier comments - we are in a clear downtrend. Compared with the 2017 correction we could expect either a long(er) lasting sideway trend or a 'get things done' last wave to around 20k support. My research makes me opt for the last scenario. As always: the market decides.
This is no advice just my opinion.
The continuation pennant could soon form a bearish triangle... let's get rid of this down trend and test back so we have free space to the next all time highs.
Good luck to you all ... I start taking position for a ride up to 35k+ little by little as soon as we have seen 30k bounce off.
This is not advice, just sharing of my own strategy.
The ABC became faster true than predicted... main question is now, will it turn into a downtrend or recovery... up to the main players in this market (Tesla as 'pusher' and big wallets). Wait and see... at the moment I only scalp short trades... and buy to HODL for the longterm
There is in my opinion still an open window to be tested, back to around .10-.15. At the moment we are still in an uptrend however. Decision about market direction will follow soon...see chart.
THIS IS JUST AN IDEA - NOT AN ADVICE TO TRADE.