I'm looking for a breakout to the upside very soon - today or tomorrow it must happen. there is a very big support over 3500$-3600$ area.
this is very and i think all the china panic issue has just put BTC to the sideways after the big crash.
something interesting that i'v found: in the whole history bitcoin has been through many crashes, and it's all 38-40%.
Remember the crash from 2980$ to the lowest point of 1830$ ? it's around 40%. and this time from 4980$ to 2972$ ? perfect - 40%
Bitcoin is just correcting, that's the way it is. doesn't matter if china caused it or not - BTC was MUST to make this correction sooner or later and it's a good thing!
It's just one step forward to 5000$ and when it breaks we'll see 7000$ in no time :)
Let me know your thoughts and leave a comment.
Example of a falling wedge: