As long as the is a support, the overall scenario is .
If the becomes a resistance, the scenario changes to .
Close around the , there is an undecided scenario with a sideward trend.
Resistaces R1 and R2 and supports S1 and S2 are close together. Therefore, we expect a slow upmove with narrow swings. This is not a good scenario for trading. Spreads will most likely be bigger than the swings.
Why does the price of Bitcoin drop dramatically? It does not seem that it already reached the bottom. It is because Bitcoin cannot hold its promises. Payment transactions take up to eight hours and the transaction fees are expensive. Therefore, Bitcoin cannot be used anymore for Nano payments and Nano donations. It is unthinkable that Bitcoin can be used on a checkout of a supermarket. For this reason, people started to turn their back on Bitcoin and they are moving towards others, alternative coins with a better performance. On February 1, 2018, there is the launch of the Futurocoin. Futurocoin is a payment coin with cheap transaction fees. A payment transaction will be executed within four seconds. This new coin is specialized for payments and it is well qualified for a checkout of a supermarket. As performance is what counts, Futurocoin will have a bright future and it will attract many users. I guess that it will be one of the top five coins soon. For a coin with such a positive outlook, it is irrelevant if I can pay taxes with it or not. There will be plenty of exchanges for buying fiat money for paying taxes.
The launch of the Futurocoin will be the biggest launch the cryptocurrency scene has ever seen. There is a community of more than half a million people waiting for buying the coin on the first day. This community will acquire new acceptance places because they get a lifetime share of the turnover. Expect that this coin will develop faster than other, technically similar coins because of its huge active community.