Wave Analysis:

Bitcoin continues to crash despite the previous forecasts that it could gain value. As long as the price remains within 5892.46-11689.43, we're only interested in trading reversals, however, any clear break out of this zone will call for breakout trading depending of the direction of breakout. At the moment, we expect the price to fall further towards 5892.45 and should break even lower. The anticipated bearish price rally is the continuation of both the impulsive waves (v) and (c) to the lower side and should break below 5692.45.

Trade Recommendation:

Remain short towards 5692.45