At the moment, we're still trading within the symmetrical triangle, but because the lunar new year is still too far away it's hard to see how a rally could start. There're three possible scenarios:
s1: BTC goes kaput from now. This will be very bearish, as we're not even at the apex yet. A drop of 4.5k can be expected ---> target will be 5.4k.
s2: We go to the apex and BTC goes kaput. the long-term trend line could provide strong support. $8 will be the target.
s3: BTC doesn't break down & stays between 11k & 13k until mid-Feb.
btw, if you believe the H&S must be completed, the target will be 5.4k (as the neckline is at 0.5x). I'm starting to think it's really going to 5k. Never felt so real before (even though I wrote it a couple of times).
s1: BTC goes kaput from now. This will be very bearish, as we're not even at the apex yet. A drop of 4.5k can be expected ---> target will be 5.4k.
s2: We go to the apex and BTC goes kaput. the long-term trend line could provide strong support. $8 will be the target.
s3: BTC doesn't break down & stays between 11k & 13k until mid-Feb.
btw, if you believe the H&S must be completed, the target will be 5.4k (as the neckline is at 0.5x). I'm starting to think it's really going to 5k. Never felt so real before (even though I wrote it a couple of times).
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BTW, I think s2 more likely. 5.4k will be disastrousComment
I hope bitfinex will not go belly upComment
The real problem in this market: Nobody wants to buy BTC b/c alts grow faster, but when BTC is in the red alts go redder. We need a USD (no 't')-denominated exchange that has no BTC pairs.
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small pump tonight to 11k. perhaps as we enter feb, this will be the beginning of double bottomComment
oho, looks like s1 :'(haven't sold all my shitcoins yet :(
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we've touched 9k. if lucky, this will be the end of the crash.Comment
The last time btc is this oversold was on 11/11/2017.I expect some good news will come within the week.
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so much kaput
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