Legs seems repeating, all in all view it looks like a bear flag, would be logical to stop at 5200, some fibs also matches 5200 zone. In my opinion we totally are not in the bottom yet, if u check previous bottoms, after reaching bottom we should bounce at least 400$ and continue to grow for the next hours. As current situation 5900-6150 looks like a dead cat bounce.
We can see some clear support points which we were building for some time, thats only difference between 2014 correction and this is the only reason i think which could save BTC from massive corrections which we were making in past.
This is not a prediction, just a speculation
As I couldn't match a pitchfork correctly for this log scale trend, so then decided to Make own channel manually out of an older trend. Placed the mane lines, measured them with fib channels to draw other continual channel lines which would mach the pattern so We could try to predict the next tops/bottoms of this awesome trend. What do you think of this channel?...
Not a prediction
If 0 and 1 fib lines are placed on the correct consolidation spots or stronger support/resistance lines and
if you know that it-(the currency, currency pair) will move up/down, with this technique
you can predict where will be bottom/top with these fib levels: 3.618 (Is guarantee to hit (if placed correctly)),
4 (Is mostly top/bottom) and 4.236...
Updated idea of BTC for long term
Tips are welcome to this BTC address: 1KYDPJ4XEribrakTSTnTrEX4C3syhcFxpo
Its just my opinion, don't take it too serious
This is not financial advice nor a fact that
this pattern is going to happen