From the graph, we have returned to the final two major restraints before we hit below LL of previous trend.
Considering current trend, as previously predicted we have pushed through L1, a loose restraint indicated by previous LLs. We can expect that should current market conditions continue, there are strong indicators points to time and value of recovery - this is set at the intersection 1) lower restraint of the current triangle, 2) secondary restraint, outlined by spikes downward, and 3) the initial base price of the previous move upwards, all at @517. Should the current trajectory continue down at its current rate, the intersection would indicate a possible change in trend sometime after 19:00 on 14th January (NOTE: this is an estimated time, as a change of this may require a double retraction/reverse double head at 517 for the market to gain confidence. If so, upper restraints should be in line with upper side of pink triangle).
Stop loss at 450. If it gets down that far, pray for Justin.
Fib Retracement then suggests possible targets at T1 -1281, T2 - 1462, T3 - 1720 and T4 - 2048, using X-Z to trace pace of previous trend. Note: T1 is not in line with first Fib line at 1099, but considering recent , I have removed this as a possible target to guard against a failed pullback.
Opinion not advice
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