The Jury is still out - but judging by the magnitude of the last major fibonacci cycles - it looks as if we will have a good chance of catching right around $7500 - with maybe one or two candles possibly going as low as $4500. Obviously if BTC goes that low it will be an extremely attractive price for deep pocket traders, so don't expect it to stay there very long - but that Yo-Yo price action could be enough to slingshot us to a new uptrend cycle - just in time for Chinese New Year.
Here is a very interesting article showing the 12m cycles of Bitcoin and the correlation to the Lunar New Moon: https://bitcoinist.com/bitcoin-price-lunar-new-year-lows/
Once we come back from this brief correction - I expect the market to surge strongly going into the spring with both BTC and Altcoins pumping to all time highs.
Here's some inspiration for the newbies.
https://media.giphy.com/media/euP6lFnzL6HMk/giphy.gif
Stay Cryptic Ya'll.
-BK
