We have witnessed a crazy downtrend in the past days for Bitcoin. In my opinion these are only two possibilities for BTC.
1. It will breakout of the downtrend resistance, this would lead to a new bullish trend. I see this happening, looking at the developments today regarding acceptance and investigation of the possibilities of blockchain technology. 2. Too much resistance, continuation of a bearish market towards $5000-$6000?
i think if it was going to breakout today why wouldn't it have done it earlier when it had more positive momentum? The odds are against it at the moment imo