RE: Bitcoin Crashes Below $9,000 - Lowest Since Thanksgiving
Bitcoin declined initially during today's trading, but found the $ 8000 support level. However, although we have formed a hammer on the daily candle, there is still a very small size. That is why I feel that any progress at this point will not be able to hold firm. However, if we reach a new high, a break above $ 11,000 leads me to expect that the market will continue to collide with the $ 8,000 handle and eventually break below it. If we do, the market is likely to be heading towards the $ 6,000 level thereafter. If we can break higher, then I think we will start to see a move towards the $ 13,000 level, but now I am not fully convinced, because while the USD is under pressure, the encoded currency market was not able to take advantage of it.
We hope to go up but do not fear them
No offence but I think TA in cryptomarkets is completely BS . Crypto market is imature market, not mature like forex. The more the people respect the rules ( technical analysis ) the more game works in the favor of the rules.
News>TA! I see people daily having their analysis failed by the news. TA can be used as final confirmations once you want to place an order in my opinion.
In the end of the day everyone has his methods!
I think TA does apply, these market don't move with small money, it's the big money that is moving the markets, and they follow TA and move the markets they want. I almost think the crypto market is now managed, buy the big boys... at least the major coins.