$BTC is in an ugly downward pattern. Key support of $14,000 (+/- $500) was broken on strong volume. I did not pick up the fact that support level kept getting tested which usually means the support level will be broken.
Next support is around $11,700. Stay away for now. Bitcoin has a strong downward trend. We will need to see what January brings us once all the traders are back to work. It will either continue to go down or some major buyers will step in. Who knows?
Next support is around $11,700. Stay away for now. Bitcoin has a strong downward trend. We will need to see what January brings us once all the traders are back to work. It will either continue to go down or some major buyers will step in. Who knows?
Comment:
Bitcoin is back above the $14,000 level (and has broken downtrend) so let's see if it will hold for the next day. If so, it may continue back to its highs but Bitcoins needs buyers.
Comment:
$15,400 is the new resistance level. Not worth looking until it trades consistently above that price.
Comment:
Now, I am turning bullish. The $15,400 resistance level was broken and volume is increasing.
Comment:
Continues to move higher. Volume is picking up so $20,000 will be tested again. Maybe in a week or two.
Comment:
Disappointing to see it go back down. $14,000 is support again. Does look weak. I am back to Neutral.