BTC has been sliding continuously within the downtrend for the past 7 days.
A retest of the 7700 level bottom is now occurring.
Probable bounce to the 8100 level then possible breakout of the bull flag to retest fib 0.5 8800 and higher
a lower low would invalidate or a breakout from the bottom of the bull flag formation of this setup.
what goes down must come up
It may happen tomorrow or it may string us along until the end of the year but it would seem this descending triangle has the potential to drop back down to support from LAST YEAR'S descending triangle. If this takes as long as before and we end up consolidating well into it's apex that would give time for the 200 week MA to move up and create strong support again...