Bitcoin Trend / What Behind The Drop / Let Us Look At History
Expected trading for weekend is between 10700.00 support
and 12800.00 resistance
Three main factors:
China floating ban on centralised crypto trading. Not too scared of this one, as long term we will be fine without China, if that is the stupid way they choose.
South Korea news floating around again. Nothing really new. I am sure that SK will regulate crypto, NOT ban it. If they enact regulations in line with what they have announced, I am positive on it. As SK ban would be very bad for crypto, but I do not think it will happen.
People who are new to crypto and bought in at all time highs in December are panicking, causing massive price drops. As they made the decision to buy in at all time highs, and now they decide to sell at the dip.
You will see that Bitcoin has corrected
every year between 4th and 18 th of January.
History tends to repeat itself!
Have a look below:
Low: $150 on January 14, 2015
Year close: $431
Low: $360 on January 16, 2016
Year close: $966
Low: $750 on January 12, 2017
Year close: $13880
Low: $9370 on January 17, 2018
Year close: Let us wait and see!
if the price hold above 10700.00 level
Bitcoin price now is around 12100.00 / in the fear zone /.
Holding above 10700.00 keep the bullish wave valid towards 12800.00 level.
Breaching 12800.00 level and hold above it, might push the price towards 14400.00 level
Note, Breaking 10700.00 level and hold below it, will cancel the bullish wave and will push the price to resume the decline in the crash zone.
Expected trading for weekend:
is between 10700.00 support and 12800.00 resistance.
Expected trend for weekend:
Bullish / Until clear break below 10700.00.
What You Know About --> Fibonacci Retracement in Trending Market.
If You Are New Steemain Read --> Get Started Fast with Steemit.
If You are New in Forex --> Read Forex Education Center / Volume I.
If You Feel Invisible on Steemit --> Come and hang with us.
What You Know About --> Syrian Civil War.
south korea ban would be bad but in case it would happen people would find a way to still get their beloved coins I am sure.
Also as you I think it is very unlikely.
Well said..
Thanks for support..
Have a great Sunday..
Likewise 😊
I've been racking my brain to try and figure out this #altcoin and #bitcoin drop and then, oh crap! I remembered! The 1st Bitcoin futures expire in two days. The whales and market makers for the people that shorted #BTC are driving the price down. Just a theory.
bitcoin is one of the biggest opportunities since the invention of the internet itself.... great times to be around....
Don't see SK banning Crypto. The news circulating about that has been now said to be false. Can't see any value in them denying the story and then turning around and actually doing it. As always don't believe everything you read.
Some of the information was unknown.Nice post .its related to bitcoin.
its a really informational post.thanks for share.
(Upvote & resteem buddy.)
Thank you for sharing.
I agree with you in that SK will not ban cryptos.
Excellent technical analysis of bitcoin and you explained nicely about the fear zone and crash zone, your analysis are really help me to understand the bitcoin market, Stay blessed.
hope things are getting better now..thanks for the news :)
Thanks for the update.This is very useful to people like me who are not good at market analysis
-cheers-
Thanks a lot for this beautiful piece of information