You don't need fancy indicators to see that we are headed down a familiar road again. 10400 here we come.
On December 22, we saw a vicious holiday profit taking dip down to 10400. Nice wicky bounce to recover nearly 5k in a day. Many thought it was the last we'd see of the 10k regions. But if 2018 has shown us anything it's that the fireworks are just getting started. A vast amount of cryptocurrency capital is being sloshed around altcoins and icos. The marketing modus operandi lately is not to sell the investors on the project's future potential, but on the pump'd price to play on FOMO. New investors and wanna be traders don't know what to do. Hence many people are getting REKT. Retail traders are running scared. Combine that with FUD coming from major Financial voices such as Warren Buffet and Reuters suggesting darker days ahead. 10400 might not be enough to stop the downward momentum.
At this time the order books look something like this:
price ~ buys
$10,000 ~1661 btc
$9,000 ~ 1275 btc
$8,000 ~ 1320 btc
$7,000 ~ 446 btc
$6,000 ~ 692 btc
$5,000 ~ 673 btc
$4,000 ~ 484 btc
$3,000 ~ 378 btc
$2,000 ~ 915 btc
$1,000 ~ 1673 btc
So who knows, we might be headed to 1K.
No fancy indicator is needed for this one. No Fibonacci. No Elliot Wave. No Ichimoku. Like Optimus Prime crashing down a mountain, Bitcoin is headed down the hill. It's up to the Bulls and the Whales to decide when we turn north again. Most will HODL. Weak hands will run. But when the carnage is over, Bitcoin like Phoenix will rise again.
BTCUSD
On December 22, we saw a vicious holiday profit taking dip down to 10400. Nice wicky bounce to recover nearly 5k in a day. Many thought it was the last we'd see of the 10k regions. But if 2018 has shown us anything it's that the fireworks are just getting started. A vast amount of cryptocurrency capital is being sloshed around altcoins and icos. The marketing modus operandi lately is not to sell the investors on the project's future potential, but on the pump'd price to play on FOMO. New investors and wanna be traders don't know what to do. Hence many people are getting REKT. Retail traders are running scared. Combine that with FUD coming from major Financial voices such as Warren Buffet and Reuters suggesting darker days ahead. 10400 might not be enough to stop the downward momentum.
At this time the order books look something like this:
price ~ buys
$10,000 ~1661 btc
$9,000 ~ 1275 btc
$8,000 ~ 1320 btc
$7,000 ~ 446 btc
$6,000 ~ 692 btc
$5,000 ~ 673 btc
$4,000 ~ 484 btc
$3,000 ~ 378 btc
$2,000 ~ 915 btc
$1,000 ~ 1673 btc
So who knows, we might be headed to 1K.
No fancy indicator is needed for this one. No Fibonacci. No Elliot Wave. No Ichimoku. Like Optimus Prime crashing down a mountain, Bitcoin is headed down the hill. It's up to the Bulls and the Whales to decide when we turn north again. Most will HODL. Weak hands will run. But when the carnage is over, Bitcoin like Phoenix will rise again.
BTCUSD