Bitcoin seems to be in its final and fifth wave down. Since this is no longer a correction, but a bearish downwards momentum, the fifth wave of the Elliott wave principle in combination with fibonacci, dictate that the bitcoin price could go as low as 3k.
-At this point, the RSI is oversold, a retracement will happen in the upcoming days (also based on MACD). -Market will continue its decline towards its previous low of approximately 6.2k USD. -Price will bounce from this level and again retrace. -Final leg down will end between 3k and 4.5k USD.
Disclaimer: This is of course over a very long term and will probably not happen exactly like this. I do believe BTC will head towards 3k-4.5k levels but how long it will take and where exactly retracements occur is very uncertain.