Bitcoin is showing weakness with a at $475-500 and formation as well. A move below $400 on Bitfinex will confirm the bears taking over and a potential revisit of $340-350 and even $315.
If we manage to hold above $400 then we will stay in 2 weeks of sideways and consolidation and break out after January 15th towards new highs of $650-680
Note: Any bad news e.g. BitcoinXT Fork etc. can wick down Bitcoin to $275 then shoot it back up.
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Target to be reached is $385-380 upon $400 break in few hours/ days
Back to middle of my chart. imo more sideways before decision.
Today's daily candle is the end of the 11 days timenode cycle which marks a big incoming move in the next 24-48 hours.
Still no way of telling what's next at 100%:
Bulls: I am still favoring a move up to 450 initially then more consolidation then a breakup after January 15th and the start of the megabull cycle to $650+ as long as $425 holds.
Bears: If we break $420 I would expect the stoploss to kick-in and a washdown to $380 to occur, and even more panick down to $350 and even a wick to $275 as the failure of the megabull cycle pattern might scare a lot of permabull
WSJ article here --> https://crd.ht/FHnigyZ
My target at 440-450 got hit. Top of triangle is $450 on Bitfinex and we might push to touch it before a retest of $435 support and further up after January 15th next week. I believe the megabull cycle will take us to $650-680 at least after popping $470, $500
Incoming new chart soon.