RE: Bitcoin prices may fall to $5,600. Or is it really different this time?
Looking at the close-up updated version of my previous anaylsis found below, I can say that the odds of a decrease in prices are falling. The declining green line that is drawn from head down through the right shoulder is breached (right at the green circle I have placed) and that might be the sign of another sharp increase (Now i think this option has a chance of around 60-70%).
I just wanted to warn those who have read this and would like to remind that price was above $16.000 when I made the previous analysis and is still at $15.000, so noone has made a loss. It is best to reconsider before it is too late.
Afterwards, I would expect the prices to make a second high at $20.000 (purple line), and then increase/decrease chances are 50%-50% in my opinion.
On the other hand, if prices continue falling from now on and $11.900 support is breached, then $5.600 scenario would be on the table again.