Bitcoin has a strong short position and it is aiming to push prices down to a low of $6,000 in February 2018. As you can see from the picture, the bitcoin bearish signal is still strong.
Within a week or two, bitcoin prices could fall below $6,000, and over the next 48 hours the BTC could bounce back slightly to $7,000 to $7240, before falling further.
i completely disagree with this because you can not see this on any charts. you can draw all the lines you want but it still doesn't show it. the fact of the matter is this drop was another manipulation in a long line of manipulations to dump constantly on the market and keep pushing the price down. possibly because of the Futures contracts and the profit that they are making from those.
whether it is going to go lower or not depends on how much longer the manipulation can last and also how much longer the real money from the rest of the investors is going to stay out.