Currently, fundamentals are more important than TAPivot point: 11178. Above Pivot point, the scenario is bullish, below it is bearish.
Pivot point and its support and resistance levels are strong barriers that cannot be easily overcome by the market price.
Since January 17, 2018, the market price of Bitcoin is tending around Pivot Point and its swings are getting smaller and smaller. BTCUSD is heading straight to the apex of the green triangle. There is a good chance that this sideways movement will continue for a while. Currently, there is an equilibrium between Bulls and Bears. The bears still see BTCUSD lower, while the Bulls are waiting for the ascending prices in February, similar to the years before. However, is that price increase in February a general law of nature? The fundamentals speak loud and clear for a further drop of BTCUSD. Payment transaction times of up to 8 hours and high transaction fees made it obvious that Bitcoin can no longer serve as a payment coin. Micro payments are no longer attractive and transaction times of up to 8 hours make it impossible to use Bitcoin on the checkout of a supermarket. People start recognizing that Bitcoin cannot hold its promises. Therefore, users started to turn their back on Bitcoin and are watching out for alternative coins with a better performance. Yes, performance is everything when it comes to cryptocurrencies. This time, I do not expect that Bitcoin will recover from the low price.
On February 1, 2018, there is the launch of Futurocoin. FTO is a specialized payment coin with cheap transaction fees. FTO can execute a payment transaction within 4 seconds. Additionally, a community of more than half a million people are at the ready for acquiring acceptance places like retail shops, retail chains, apparel, electronic shops, travel and holiday companies, car dealers, etc. We can expect that FTO will develop fast and I see it as a top five coin within two years.
