Tank, Dragonfly DOJI, Long-Legged DOJI, Up, 10 % UP, Bull-Trap (Tank) - This is the Bitcoin daily chart for the last week. I would like to make a small recap day by day, so our little analysis starts from the 16th of January (See the chart 2 below).

16th of January - Eyes are on the 13,000$ support level, we broke it in a very decisive way and we touched the 10,000$ level, before bouncing back to 11,000$

17th of January - The day started very bullish, green bar after green bar, before crashing past the 10,000$, going all the way down to 9,300$ ( The last time BTC was at 9300$ was on 30th, October) After a good effort from the bulls we managed to close with a Semi - Dragonfly DOJI Bar. ( See Chart 2 for better understanding) In general the Dragonfly DOJI Bar is a bullish indicator, was it in this case ?

18th of January - A very indicisive day - bulls pushed, bears hold and vice versa. We made a classical Long-Legged DOJI Bar, which indicates Indecision ( See Chart 2), but still closed over 11,000$. HODLERS looked confused and guess what - BLAME IT ON THE FUD, LOL ! ( South Korea, China, Europe)

19th of January - The first hour of trading was with little volume and the bears thought they got this, well guess again. Buyers were everywhere with decent amounts on the bid. We are talking about 250-500 BTC on every 50-100 points, all the way up.

20th of January - The Hodlers celebrated and started preaching the gospel of the HODLER - "I told you it was only FUD", "I've seen this scenario at least 4 times, it's always the same", "Have you seen the Roadmap - this baby is worth at least a million and it's still a bargain". Indeed it was a spectacular day for the bulls. The magic of the FOMO (Fear Of Missing Out) also helped.

21th of January - Buyers from the 9,500 - 11,000$ decided to lock some profits, which triggered a reaction involving the buyers from the 12,500-13,000$ levels. So with all that selling, here we are - 11% down for the day. A classical bull-trap, which looks like it will engulf the previous two green bars. What times to be alive !

Chart 1

These are some basic DOJI candle stick formations. I hope you find them useful.

Conclusion

There is a lot of indecision in the crypto area at the moment, people are feeling that too much has happened too fast. A lot of people have invested, without properly educating themselvesm, that inevitably leads to a great chance to be shaken out. Weak hands are leaving the crypto space in a heartbeat. 20-30% volatility is not usual for the average Joe.

I expect to see new lows, next support level (If we break 11,000$) is around 10,000$ and then 8,000$. The FUD won't stop and if we break again the 10,000$ we mights see some panic selling in a greater extent. I believe that if make a 30-40% downward movement in the next week, it will be an excellent buying opportunity (after the 26th of January, around 28-29th maybe)

This post was written with a great dose of satire, I wanted it to be funny and informative

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