More downside if Btc closes 1 day candle as bearish engulfing.30 minutes or so left in the 1 day candle and we can see it still looks very likely we will close as a bearish engulfing candle. If this occurs it is highly probable that we will see considerably steeper downside to price action. Currently, we have already had a bit of a rebound after correcting 26% but odds are good this will be a dead cat bounce and the full correction will be closer to 31-41%. Let's also remember there are gap ups that need filled on the cmes future chart some even as low as 8500 or so. So I believing before this correction is through we will see a test of the 1 day 50ma. Last thing to mention is the weekly candle(not shown here) may very likely close as a big reversal hammer or possibly even close red. Currently the weekly candle shows that we had a clear blow off top. I expect bull momentum to resume shortly after the correction hits more than 41 percent and I expect it to do so with a level of insane volume that we haven't yet seen his entire bull run. Strap in and enjoy the ride wise to buy any and all dips after we cross the 31 percent correction threshhold imo. Of course as always though this is no financial advice.
