Bitcoin major decision area
Aggiornato
Bitcoin is in what appears to be a bear flag that is beginning it's completion. The target levels for the bulls would be first: 3920, then 4500. From there a 'bull market' could be argued as well as a upward trend. Until then we have to be realistic about this bear market and expect to be denied at 3920 (the top of the flag's resistance). If the bears win out we will slowly but surely reach levels around 2300 and below. Happy trading.
Nota
Just noticed something. Price is not only below the 236 fib fan from 19,500. But we are outside of the 124 (886) fib fan from the initial bounce. Being outside of that line in my view is basically already showing that the bears are in control now. But the ultimate decision for me will be based on not breaking from this current support. 
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