Downtrend is clearly resumed here. Many will say "lol it's impossible" (my drawing). Okay maybe, this is not prediction, this is one of possible scenarios, after denial @downtrend reddotted line. For me BTC has started dynamical wave 5th in this correction from ATH. It's end in range 3000-5000 will not surprise me at all. Invalidating of the above scenario, after succesful attack on downtrend line - will not surprise me too.
How this bearish scenario can develop further - good example is XEMs case:
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Logarithmic chart:
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Elliot waves:
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Or other possibility EWs:
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bearish engulfing @Weekly chart
