But we never have to neglect BTC as this is the mother of all coins and clearly all alts follow the herd...
I had a week ago or so the same retracement indicated on this chart in mind... seemly BTC is following my worst scenario view.
I have learned this from a teacher who proposed this outcome, and I must admit that it looks the only possible way to go, but... optimistically after the rebound, it should go to higher altitudes anyway... creating huge momentum... everyone is waiting for this anyway... so plenty of back up investments watching on the sideline when to go in..
watch Mike Novogratz waiting BTC to hit 8000... to throw in 500M craziness from a guy who says BTC will go to 100 K or 1M, or John Mcafee, who will eat his d*ck if BTC won't touch 2M in 2 years.
Anyway... the largest picture tells the truest story, so I think we're right at the end of the giant cup with the giant handle forming... if the drop till 11000 didn't happen, this looks like a nice triangle forming.. (yellow lines)
But the handle could be forming a few days/weeks from here perhaps, or right now?