Bitcoin lows in January over the past 3 years
Has the Bitcoin price been the lowest near the start of the previous 3 years? Here is a look at the daily charts over the last 3 years.
In 2015, the yearly low was in January with a major spike down in late 2014 and continued for a few says into 2015. It rebounded nicely.
In 2016, the yearly low was in January with a correction and rebound into a consolidation pattern. BTC would continue to new all time highs by the end of the year.
In 2017, the price was the lowest in January and in a tight consolidation range. Price started moving up in May and never looked back. Will history repeat in 2018 with the low price in January?
BTC daily chart with various notes, fibonacci projections and retracements.
- A closer look at the daily chart with a Heikin Ashi overlay on the candlesticks indicates the continued downtrend (red bars)
- BTC broke the previous low of 12500 and has rebounded near that level. If the daily bar closes lower than 12500, look for the downtrend to continue.
- Next support level is the last major low of ~10,400 (depending upon which exchange your looking at, this chart is from Coinbase)
- Stochastics are embedded to the downside, this suggests lower prices until the K line breaks over 20.
There is a bit of a stir up regarding both China and S Korea regarding the regulation of cryptocurrency trading/investing. The governments have noted that the market is out of their control and is mulling over potential regulation. Even if they do regulate the markets, there will always be a 'black' market for BTC and the 'alts'.
Some will use browsers like Torr to tunnel outside of their country and into other exchanges. People can also setup a small satellite system to connect to the net instead of using a local ISP.
Here is a daily line chart to compare how a few of the other top cryptos are trading against BTC.
BTC in Red
ETH in Blue
Dash in Green
LTC in Yellow
BCH in Orange
I'm HodL long and strong =)
This post is just for information and educational purposes only, I am not a registered financial advisor.
Buy the dip! Bitcoin is not a bitconnect. This is a huge opportunity to get on the 🚂.
This is panic selling and we should take advantage of it.
Great post!
Resteemed!
There is probably going to be a huge rebound after a spike low selloff. I'm sure it will look like a V bottom when this is over.
Asians always have the biggest volume and they spend lots of money on lunar new year (which is today). They are cashing out around same year for holiday and prizes :)
Great post!
If bitcoin has solid support at 10400 I expect it to bounce little higher. I don’t thing it would go all the way down to 10400. However, if it goes as low as 10400 I think it will break this support.
Resteemed!
10.400 support just broke, this will probably result in a further correction. Great- so I can get bitcoins way cheaper :D
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Only the lighting fast transactions can save Bitcoin I guess.
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