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Disclaimer: This is not investing advice. These charts are for fun and beginners. An easy to understand basic introduction to charts.
BTC
As you can see we have fallen from yet another lower high, and heading towards a lower low. Twice before in this bear market we have fallen 41% from the lower high then corrected around 30% before starting to fall towards new lower lows. We had to break above the fib 38,2 to get out of this trend, but we could not and started falling on bad SEC news yesterday (which I think was coordinated and known by big players in forehand)
Now I am looking at $5000 level which should happen at around the beginning of Sept. Then a correction towards that $6000 level which then will be the 31,8 fibbonacci retracement.
Unfortunately that's how pessimistic I am right now. I think that there is a 60-70% likelyhood that this scenario will play out. Luckily this is only predictions and I do hope that I am wrong!
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