Bitcoin struggling to get above resistance could lead price down

If Bitcoin cant get a solid foundation above $9400 then its possible we could see price fall down to $5450 or possibly even $4200.
If the price falls below $7450 then expect a long downward push
Bullish as soon as we break through the (smaller) descending channel

Kommentera:

Using Log scale I see a potential target of roughly $5500

Kommentera:

The rejection from $9400 has shown a continuation to the bearish trend.
The 42% move had many thinking the correction has ended
when it was only an X leg of a Triple combination WXYXZ
Using log scale a target of $5500 in Feb 2020 as a potential target

Kommentera:

Current Estimate
Still sure we are in a Triple Three combination WXYXZ
Currently in the B wave of the Z.
Looks like the A and B waves of an ABC are finishing
C target looks to be ~$8600-8750
FIb confluence zone meeting with Channel top around $8600

Kommentera:

Still my current estimate
Not my normal way of placing a Gann fan
but it seem to line well so a good test for me