Currency Pair: BTC.USD Time Frame: Daily, 4hr, 1hr & 5min Predicted Direction: Short
Live BTC.USD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity. Should my daily predicted direction be incorrect no trade opportunity will be generated.
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$9,000 target has been achieved in textbook fashion. There is minor bullish divergence, however the sell off doesn't yet look like it's over.
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The next key structure at $7500
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The 8k level is approaching which is a key level i am looking for support & a reversal.
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$8,000 has been breached, i will now keep my eye very close to the chat looking for longer therm reversals.
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Price bouncing off $7,500, should this break i can only see the next level would be $5,500 as from my analysis above on the 21st January.
The worst news in the history of Bitcoin and it's still standing. What doesn't kill you makes you stronger. Buying at 9k, 8k and 7k
UnknownUnicorn180388
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@fakhan, I agree, i still see price rising in the first quarter but a lot of the short term speculators seem to be leaving the market.
Jefe
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@tomhall, A lot of newbies in the cryptospace with weak hands. The big guys are silently waiting, letting the fear work for them. Once they see the shakeout is over, they will get onboard. Meanwhile, they have taken off their buy orders from exchanges to add to the fear. But they are going to be the first to buy when they see that no more weak hands are left. Honestly at this stage, there's not much worse you can do. This is like the peak of the fear period. I'll give it 1 or 2 weeks max for a recovery.