Hi there,
The situation now is very bearish for BTC and for all the crypto market at the moment. Price is testing the $6400 support zone, but once this level is broke, we can expect for a short-term bull rally. I strongly believe that BTC will retest the $6000 soon, may be few hours after this post, since all the signals are now very negative.
Look at this 4h chart, the third wave of the impulse wave seems to finish. Price has broken the 1.618 level so I believe price will decrease more to 2.168 - $5800, which is very close to swing low $6000 level. Also price is moving near the lower bollinger band so further declining is expected to happen soon.
But let's see. Market is always unpredictable so please bear in mind to place stoploss for all of your scenarios.
The situation now is very bearish for BTC and for all the crypto market at the moment. Price is testing the $6400 support zone, but once this level is broke, we can expect for a short-term bull rally. I strongly believe that BTC will retest the $6000 soon, may be few hours after this post, since all the signals are now very negative.
But let's see. Market is always unpredictable so please bear in mind to place stoploss for all of your scenarios.