Bitcoin has been trading under 200 Daily Moving Average ( the red line ).
At the same time a weekly 200 moving average currently stands at 4,000 ( the magenta line ).
That level will be working as a magnet for the coming drop.
That drop should set panic among retail investors making them dump their underwater holdings. According to my micro count it will complete the whole large corrective wave [ 4 ] down started off the top of the wave [3 ] up at $19,796 reached in December 2017.