Based on the previous 2018 low at the 0.5 fibonacci retracement level, I'll be staying out of the market for a while. BTC trending strongly downwards targeting around 16k (again based on previous cycle lows at the 1W 200 EMA). Price is currently riding below the 3D 20 EMA which is historically relevant and signals further lows. Next significant support may be at 1000 (0.618) and then the final target is 630 (0.5). It's a long way down and even if it was to bounce it would have to consolidate for a long while to be in bullish territory.
