A massive sell-off in Bitcoin today caught some people by surprise. My goal is to present a specific criteria for trend change in this market. In my view, the break of $4236, which is a cluster of the pitchfork trendline and an important fibo-level would lead to more selling and confirm that the market is in a correction mode. Downside targets are drawn on the chart.
Comment:
To illustrate my logic further, on a smaller-degree chart:
Trade closed: target reached:
Main target $3700 has been reached.
