Bitcoin: How to trade the new pattern.

All our downside target have been accomplished on BTC (TP = 6,100 the latest) after yesterday's aggressive selling.

The new pattern that has emerged is a Channel Down on 1D (Highs/Lows = -594.8498, MACD = -111.900, B/BP = -1196.5418). It made a technical Lower Low on today's 5,432.0 session bottom and due to its oversold action (RSI = 20.832, STOCHRSI = 0.000, CCI = -418.3694) should look for a Lower High.

Both Lower Lows came from a -17.50% decline so we have to assume that the Lower Highs will also be symmetrical. The one at 6,900 was delivered on a 12.75% increase so if the same percentage is applied we are looking at a new Lower High at 6,125.

You are encouraged to TP = 5,900 for safety, to account for extreme fundamentals.

After that Lower High Bitcoin is most likely expected to make the final bottom before the new bull cycle.




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