I truly believe that BTC has reached the bottom.... for now that is. It has found support slightly above $7.000. I was anticipating $7.400 - 7.200 to be the bottom, but there you go, it fell almost $200 lower.
So what's next? BTC has 2 strong resistance lines above, one close to $7.470 and the second one (and more important one) is a downward red line which is part of "Falling Wedge" formation. BTC need to break it to gain some momentum.
Bigger scale "Falling Wedge" or downward channel.
Even bigger scale "Triangle Formation". BTC might go for that "E" move and $9.000 price.
IF it will breakout from the channel first.
In my analysis I'm using Fibonacci Levels, Elliott Wave principles, Support and Resistance lines, Candle Patterns and formations, like Head and Shoulders or Triangles (latter more often than the former).
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