Here I think that bottom will be right about $7,000 where we have strong support created by the colliding of a trend line, volume support, and the falling wedge.
After hitting about $7,000 I expect a large up move and potential retest of the $12,000. From there we could either fail and start a long decent back down to the 5k-4k range, or we could go up and start contesting for 16k, and then hopefully new all time highs.
Let's see how things play out.
Remember, bitcoin falling in price isn't a bad thing. It's a good thing because it means you can load up on more coins.
After hitting about $7,000 I expect a large up move and potential retest of the $12,000. From there we could either fail and start a long decent back down to the 5k-4k range, or we could go up and start contesting for 16k, and then hopefully new all time highs.
Let's see how things play out.
Remember, bitcoin falling in price isn't a bad thing. It's a good thing because it means you can load up on more coins.