june 26 we were 32 percent away from ath to 20k same similiar chart 2016 june 16 we are away 33 percent from Ath to 1170 and that triangle breaks downwards. like this one Just happened and bitcoin decides to go under the cup just like all the altcoins and that drop was for 5 days and it went back up no hardcore retracements breakout point to down is 28 percent unfortunately where retraces back up very quickly cause buy orders were there obviously if it does the same thing btc will do 2 dives next one will be 7400 which where everyone shits themself and start calling 900 bucks and it will retrace back up right away cause sharks are waiting there and if u draw the line just like 2016 parabolic and get the breaking point as going up we still touch 20 k this year. But also dont forget that doesnt mean we will go 7400 if u look rsi there it is one time dip we been chilling now below 30 3 days, but dont forget next month candle will close green not red
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My personal view would it go 7400 or not it is not up to fibonacci numbers or any other shit, they are market checking now if enough chickens left the market we go up if not enough we go down until, u r paranoid as fuk but drops will be sharp just like this one so they make sure u r out
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Also that drop was 60.67 percent away from ath to 1170 we drop to 7733 on bitstamp and thats 60.60 percent down to ath again so u wanna sell u can or u think big picture and dont sell cause it is gonna go back up u dont sell. smart traders loads now and can take another 10 percent hit for 300 percent