BTCUSD bounced strongly from $3000 along with most of the rest of the cryptocurrency market.
Bans in China seemed to accelerate the correction, at least temporarily.
For those still curious how China is affecting the market, I think it helps to examine volume at their soon-to-depart exchanges.
Coin Market Cap currently shows China's most popular exchange OKCoin...
The current and reasonable correction could be going beyond a simple technical correction.
The technical correction beginning at $5000 for Bitcoin was reasonable.
But the speed at which it is going now may be faster than the technicals should expect.
The Chinese government made a decree that may be more sweeping than it appears at face value.
You can read about...
I personally tend to feel that many traders apply Fibonacci excessively.
But currently Bitcoin may be headed on a path giving more legitimacy to Fibonacci.
If Bitcoin continues a sharp downward path, pay close attention to price action at the $3K area.
If it goes even farther, attention to the $2K area.
If it rebounds, watch the $5K area.
If it rebounds even more,...
This is a fundamental analysis.
BTC (Bitcoin) and BCH (Bitcoin Cash) seem to be moving in opposition for their piece of the market.
In the past 36 hours, BCH has made a huge increase in price equal to an amount taken from BTC.
BCH also temporarily took a big chunk at its inception some weeks ago, followed by BTC taking it back.
A lot of people have been buying...
