The panic is good for markets!!!
It took more then one month for the ABC corrective pattern to unfold but the decline reached perfectly his target as shown in the previous forecast. I can not rule out a decent new low but the large trading volume shows at $465 support strong capitulation. It means meanwhile the panicking bears were selling the big investors were accumulating.. The most likely scenario for the days to come is a retest of the recent bottom. Whatever the test will produce it's good to prepare for a new bull market. I used to consider any panic as a preparation for a big up move coming. How big it could be? This is very rare for me to use extremely biased words but I believe bitcoin is starting or just preparing for his long awaited shot to the moon.
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