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BTCUSD - 4hr Timeframe - Correcting for more downside

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BITSTAMP:BTCUSD   比特币
As of the last sessions, BTCUSD has had quite a strong movement to the downside. What matters, now, is that this movement to the downside was not only strong, but is also correcting itself, which would be a strong confirmation signal for more downside. It is yet unclear if the "abc" correction of the movement to the downside, in the form of a running flat, is finished (flat in yellow), or it is still playing out in a bigger structure (flat in dotted pink). If it forms a small flag on the 4hr timeframe, it will go for more downside now.
If, instead, it reverses to the upside, it is presumably going for the bigger flat. In both cases, more downside is certainly to be expected, on the most traded cryptocurrency, before the uptrend can resume it's trace.

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评论:
Although it could crawl down more, and possibly all the way to the 8000 area, it has already broken the low (A) of the first downward leg of the expanding flat it has, and that is sufficient for the flat to be completed.

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