Oversold bounce likely

BITSTAMP:BTCUSD   Bitcoin / Dollar
Refer to chart
Kommentar: Quite big volume candle. Makes it quite likely that the bounce will materialize. But I do not expect 25k++ in this next cycle, rather a continuation of intermediate cycle low which will most likely occur at 4321. Let's see what market gives.
Kommentar: If you are leveraged, can be wise to just set SL = BE in case market want to mess with your position and go directly to 4321.
Kommentar: Just raise SL to secure profit. It moves suspiciously slow
Kommentar: Soon everyone will be bullish again. Just in time to get bearish. People.. Never learn.
This doesnt look good for bulls to be honest... :)
Kommentar: Sry, scale locked got messed up.
Now here.. There IS hope for bulls at this Level to avoid further downmovement, but they must act quickly and firmly.
Kommentar: Bulls failed, a failure to hold 6300 will lead to 4321.
I respectfully disagree. BTC is heading to $5,500.
@Artesp, i think the same
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