The 4-hour Bistamp chart shows that the market sold price straight through $640 support, from where price has been slowly selling-off toward $600 and 4000 CNY.

Although 4hr MACD signals Sunday morning’s decline (magenta circle), the stochastics (top panel) are grouping at their minimum, while RSI has achieved a previous lower low (horizontal blue annotation). The stochastic and RSI indications imply that price may need to correct when decline to $600 has been achieved.

The present decline happens below a bearish 1-day chart (MACD declining below its signal line), as well as a bearish 3-day chart where both MACD and the stochastics declining. Hence, we may have to wait a week or two for the decline to bottom out and find support.

https://www.cryptocoinsnews.com/bitcoin-price-continues-medium-term-decline/

However if you also involves fundamental analysis to support your technical analysis, With it you will be more confident with bitcoin price forecasts. IMO