After a long sequence of lower weekly highs, since the 32$ top, the BTC/USD has made a strong breakdown below my 9$ long term static support, the subsequence bounce to 11$ it is normal and the overall outlook remains bearish.

I calculated an hypothetical maximum extension of this weekly downswing from 32$ and it is around 6.50$, this target is in line with the secondary target of the elliott wave software i use (using the cycle and primary time frame, both suitable for long term investors), i dont think we are going to see lower prices then that for the next weeks.