Call me an idiot but I think the direction from here is inevitably to the upside. If it will be the final bottom, I dont know that, but I think it is. I can imagine BTC going to 10k in December and a continuing bear market to low 4k range in Q3 2019. Maybe a catastrophe can make 2014 repeat in 2019, but it would need a fundamental catalyst to happen. Hence I tend to assume that the direction from here will only be up.
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Critical thinking error by me: it is more logical for the price to hit 6090 at the 0.786 extension rather than the 0.5.
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bingo