Another run at 60kBitcoin / U.S. dollarBITSTAMP:BTCUSDEthosInvestThe decline described in a previous study—attached here—was followed by a sharp and rapid correction. However, a downtrend still prevails, and the pursuit of the remaining targets remains valid. The 60-minute chart is ideal during this period of high volatility for identifying key points that will drive significant movements day after day. Fiboclouds returning to alignment and compression once again signal a new cycle of declines toward 60k. Once again, a very favorable risk-reward ratio and distant targets are the main attractions of this trade. Tracking BTC on timeframes between 60 minutes and 4 hours has been very useful in providing both the necessary precision and the clear insight that, at this moment, it makes no sense to talk about “finding a bottom” or “it’s going to rally strongly now.” Before a trend reversal occurs, this bottom must first become visible, along with a consistent post-bottom pivot; only then can it be demonstrated that trading in a new direction is possible. A good look at the weekly chart can be useful to demonstrate how much downward pressure the market is under and that, if there is a risk of something significant happening, this risk will certainly involve further declines. The expectation is that this movement will take the candles to 60,000.