Bitcoin lost the uptrend after a triple reversal from ~ 6850. At the same time, bitcoin gradually lost its positions in the channels (BB, KC, DC): could not hold onto the upper bands, slowed down a bit near the middle bands, but eventually broke down the lower bands - and reached the point ~ 5930. At the moment, we see that bitcoin has gradually returned to L/BB, but still did not fix above L/KC(20;2).
Let us analyze further possible movements!
1) At the 4H time frame: After breaking down the lower bands of the channels (BB, KC, DC) - bitcoin made a small rebound upward. So far, this rebound does not show a clear reversal - most likely it's just an attempt to "cooldown" the overheated TIs, by reaching to a level of ~6150-6250. This is confirmed by TIs: CCI=-107 (positive trend to back test -100), %R=-78, DMI=34 (+DI < -DI). Nevertheless, EMA6 < EMA9 < EMA12 < EMA26.
2) At the daily time frame: After translational fixing of the day candles above L / KC (2, 1.5, 1 mult to ATR) - bitcoin never fixed near the middle band. Therefore, we reached the lower predicted point L/BB ~5900. In general, the daily chart shows pressure down, and it is confirmed by TIs: CCI=-114 (negative trend), %R=-87, DMI=45 (+DI < -DI). Also down projection due to EMA6 < EMA9 < EMA12 < EMA26.
Conclusion: analysis shows that today bitcoin might reach L/KC (20; 1.5) ~ 6250. On the other hand, the downward daily pressure indicates to EMA100 ~ 5650. It is possible that on Saturday and Sunday, bitcoin might not make any attempts (neither up nor down), in order to start the movement from Monday.
Nevertheless, my long is now open on the weekly EMA91 ~5930, and the second long is waiting for EMA100 ~5650 (if 5930 would be broken it might be good to open quick short with target at 5650). TP is on the weekly SMA/EMA60 ~7000.
Take care of your BTC and USD!