Near the beginning of this thread, I posted a weekly chart and used this as my reason for the bearish move, which turned out to be correct. Since then, Bitcoin has dropped down to the next weekly support level. See attachment.
I am expecting this weekly support level to hold. Bitcoin is very close to this level at the time of this post, but I think Bitcoin will close above this support line. According to FxChoice, last week Bitcoin dipped way below this line down to about 5000 before going immediately back up. It was a very fast move. So for anyone who is expecting Bitcoin to go down more, it may have already happened. Bitcoin works on it's own speed. So this is why the previous weekly candle had a nice lower tail, which is a good bullish sign. At the same time, Bitcoin is near a very important support level at 5800. So this is why I am expecting a big bullish move in Bitcoin soon.
Bitcoin is currently 6400. As I said in my last post, I consider this area a good buying opportunity.