Bitcoin has fallen deep (most of Alts deeper), but this is no reason to panic. Like last year, it could recover quickly. Prices are going down especially before Chinese New Year. The news of the last few days has also influenced the price reduction. This is only marginally relevant for long-term development. Bitcoin is still the leading cryptocurrency. Bitcoin remains the leading currency, even though interesting solutions such as ETH or NEO are becoming stronger. And don't forget the other big Altcoins. I have adjusted my chart to my maximum possible levels. That's why numbers have changed. The Fibo 38 is now around 9,000 USD (8888 USD). If the bitcoin goes below this mark for a longer period of time, the next big support would be at Fibo 23 (6,500 USD). But it doesn't seem so likely. The bottom may be reached right now. BTC could touch the Fibo 38 one or two more times until it goes up, but that doesn't change the basic direction. We should be in a big bull flag. With that we might expect a bitcoin recovery. Don't forget. Lightning could be the Game Changer 2018. IMO Bitcoin will have an exciting year.
Possible Targets: Resistance at around 11.100 USD Fibo 0.62 at around 13.150 USD Fibo 0.78 at around 16.100 USD Fibo 1.23 at around 24.000 USD
Let's see what happens. Happy trading. :-)
See also:
코멘트
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BTCUSD (1h): situation chart. just for info. i start buying.
BTCUSD (12h): The TD sequential trading indicator is not bad to identify a price point. 9 is the signal. This is where we just arrived. If the situation consolidates, we can expect a reversal of the trend.
코멘트
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BTCUSD (8h): chart update. if all goes well, the next station is 11150.
코멘트
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BTCUSD (D): chart update. day view.
코멘트
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BTCUSD (8h): update chart. support line still works.
코멘트
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BTCUSD (D): update chart. if ma 200 breaks = bad. otherwise strong up possible.
코멘트
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in addition ma 200 is red step line.
코멘트
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BTCUSD (D): ma 200 not yet broken. ma = moving average. this is an absolute fundamental thing. in my chart it is the red step line. ma 200 = 200 days. btc has not fallen below this mark since 2015. if this indicator remains intact, this could trigger an upward trend.
BTCUSD (D): stay strong. MA300 (5960) ahead. just for info. my upcoming charts will be more strongly based on btc, so that those who have held btc will find the coins that increase faster than btc after correction.
코멘트
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BTCUSD (D): update. bounce back. lets see how strong.
코멘트
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BTCUSD (D): update. huge volume. maybe we could see the beginning of a good pullback.
코멘트
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BTCUSD (D): update. could be more than a positive signal. yesterday we closed the day with a volume of 193K btc (bought) and 67K btc (sold). this is more than at the trend reversal (15 september 2017). we had only a few times on bitfinex with such a high volume. let's see how long this lasts.
Very curious about what is going to happen at the 7800 - 8000 level. Hope for some perfectly timed good news. Something like: 'Bitfinex released USDT report: every USDT token is backed by USD'. We could have see swing by to outer space. lol.
BRRD
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@tdk88, whatever the good news may be you can forget that!
Tether will turn out to be only partially-backed and will get flak from the SEC or something like that, I reckon.
It won't have as big an effect on the market as many say it will.
severt
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The bounce is very weak at this point. And the sell pressure is still there...
NerdRapture
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@severt, could be the beginnings of a larger BTC bounce an hour ago - large volume with an engulfing green candle - would like to see some follow through over the next couple of hours..
Filouman
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Just panic bought at $8,800... May not be absolute bottom quite yet, but I think we are close. Let's see what happens!