we made 30% profit in last trade :) so do not be upset
btc dominace 47% now
next few days will be very important to know if this break fake or not
as we are now at 61% fibonacci
from 7800 to 7500 if this area broken btc will continue bleeding
and this will be perfect for all usdt market
u can trade with stop loss under 7800$
do not trade against the trend !
It's very interesting if BTC could breakout the strongest resistence from 20k or it would fallback to 5k or even lower.
Anyway, this 8k news not that fruitful for me.
I hold not BTC but some Alt. That's why. Lol...
What happened before the bubble burst in late 2013 is equally important for analysis-purposes. If doing so, you'll find out that the price increase of Bitcoin before the bubble burst back then was much steeper than the rally we had before christmas last year. In addition, there were NO significant corrections during that steep price increase, making it hard for Bitcoin to find a support later on during the bear market. The 1st significant support was actually the bubble in early 2013 (about 160$) - which the price of Bitcoin eventually hit in january 2015.
By doing some research you'll find that Bitcoin has never hit the same price as a prior significant correction low during a later correction or bear market. This is Bitcoin's "DNA", and we must assume that previous behavior will repeat itself. The last significant correction low for Bitcoin was in september 2017 and the price was 3k. A 3k Bitcoin is therefore highly unlikely.