In mid December Bitcoin peaked after a strong three month rally. The chart shows us that the topping process actually began in mid Nov. as Bitcoin was still in an ascending phase.

Having topped out 12 days ago above 107k, the chart displays a correction down to the 50 day mvg. avg. and bounce from there. Recently, the price has been fluctuating between just above the 20 day and just below the 50 day.

Those mvg. avgs. are converging and I expect Bitcoin to have a small rise up to that area of convergence, in the next few days(around Thurs.)before breaking down and beginning the significant correction that I have been looking for.

My expected target is the 200 day mvg. avg. somewhere in the area of 73,000-76,000, depending on how fast and how long, the drop takes to reach it.