BTC downward trend hopefully ending soon
BTC is accumulating bullish patterns after the catastrophic drop, signalling an end to the carnage. BTC currently is trending down a descending channel that is within a large falling wedge. It is completing a a very large AB=CD pattern that started with this years ATH. It is also falling a very large shark pattern that will be completed with a trend reversal. The RSI is set for another drop to complete a bullish divergence with the first drop. Price will go down more to around $7500. If price falls lower, it will signal a very bearish situation lasting months. A drop to 7500 then a trend reversal is the most palatable option.
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