Bitcoin Bearish Short Term (ABCD Pattern)

BTC has confirmed a bearish trend to follow an ABCD Pattern. I expect it to drop down to $8,000s mark. It will rise strongly from there. This correction was a strong one considering we had the Golden Cross Formation for the first time in almost 3 months. This correction was very much needed and it is healthy for Bitcoin to follow a regular pattern rather than a parabolic trip to the moon. I'm bullish on BTC for the long term but I am not buying anything before January 2018. It will continue to trade sideways, make sure you don't get caught up in any bull traps. Trade safe, guys. If you liked this analysis, please hit the thumbs up so I can continue to create more useful posts. Thank you :)