BTC is poised to either confirm a possible bear flag continuation signal of the recent corrective down trend or acknowledge it's current support line. If the former scenario plays out we can expect a further move down to either the $8000 or $9000 support levels. $8000 will mean a 100% retracement of the recent surge.
The latter scenario has in it's favour the convergence of the $14,000 level, 0.5 Fib (more a psychological level than a real Fib) and the support trend line. If it holds and confirms the continuation of the uptrend we can expect to be revisiting the ATH in a matter of weeks if not days.
The latter scenario has in it's favour the convergence of the $14,000 level, 0.5 Fib (more a psychological level than a real Fib) and the support trend line. If it holds and confirms the continuation of the uptrend we can expect to be revisiting the ATH in a matter of weeks if not days.