BITCOIN UPDATE

BTC is looking as though we are going to see another leg down.... on the daily timeframe since the markets recent bearish impulse to the downside yesterday we saw a correction being made to retest the previous daily support as new resistance, this zone also lined up nicely with the 0.618 fibonacci so a confluence of resistance, after a bearish impulse and correction what you can expect to see is the continuation to the downside. On the 4hr timeframe what we can see is the market is currently testing this level of 4hr support, as long as the price remains above this zone we cannot look for the intraday short trade....We will be waiting for a 4hr CLOSE below this zone and other entry rules to be met before possibly looking for this short, setup will remain invalid while we stay above this support. ( FYI guys this does not mean i think bull cycle is over i just think we could see more corrections yet)