Yesterdays target of 37000 satoshi was reached today. Overshooting a little is possible, but it already looks like a completed 5 wave structure. If you see rapid decline in price, expect this:
As you ca see the buying volume is already decreasing. A new high on very low volume is considered to be a bearish signal.
Yesterday I pointed out, that it would become an ending diagonal in Wave C of this downtrend, which will be extremely bullish once finished. I expect 50 cents to 1$ rises in one day. It now is an ending diagonal. If you don't know what this means, here is the ideal formation of this pattern drawn:
This pattern has ended the downtrends in the DOW and in the DAX several times. It is to be found in any tradeable market. It is an early indication of a trend reversal.
