Can Bitcoin still drop more???
As depicted in the chart we can see that BTC has created a zone between $3,500-$13,000. Bitcoin stayed within this range from about Sep2017 until breaking out Nov2020. Based on the Fractal indicator as of right now the market is searching for a new "low" or demand zone. This will show as the next green fractal is created. The MACD is showing that sellers are still in control and we are still in a downtrend. The Lips(green) of the Alligator crossed under the Teeth(red) signaling the first sign of a potential reversal. If BOTH the Lips and Teeth cross below the Jaw(blue) then a reversal is underway. I believe Bitcoin still has room to fall and buyers will be able to get in once this new low is established. No need to panic I would think the majority of us do not foresee BTC going anywhere anytime soon; so let's stay optimistic and make calculated moves.
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