IMHO the bitcoin is rather overbought and the time before Chrismass when many people will prefer to cash out and others to withdraw investments after first bears will be enough to revers the bullish trend. Looks like the downhills trend started couple of days ago and we could expect a correction is occurring at the moment. I do expect this correction to complete at 15.4-15.6k and then much stronger sells to occur.
Sell within the aforementioned zone with stop loss around 16k and take profit at 12.8k and then at 11.5k
Ok. So we saw successul bitcoin bounce from the 11.5k which is expected. I did not expected such a shark fall which lead to greater bounce back and will probably slow down the "delivery" of the bitcoin to the next stop 9.8k but think it is still feasable in before 24th. Stops should be at 14k - 14.5k. Take profits at 9.9k - 10k once and then at 7.9k - 8.1 k.
We see 13k strong support testing at the moment. Many people hop on bounce back to 25k from here. I really don't believe that. Bounce should not go higher than 14.5k. The below is long one and we could expect 5-6 k in next weeks if the support falls.
Trade responsibly!
VladimirMoushkov
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The bitcoin is now on down trend and will try to break 14.5 support before the stronger 13.5.
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