BTCUSD
is set for a massive drop as it completes a short-term descending triangle pattern, suggesting that it will not recover from the recent major drop. Mid-term outlook is still bearish as we look to the resistance at $6,000. This is a key resistance and also sits around the underlying "true value" of Bitcoin, which can be charted out from its early days.
Watch for a further drop and a test of the $6,000 resistance — t/p @ 6000.