Bitcion (UPDATE) Can Bitcoin Stay Above $10000?

Yesterday we noted that a TD Sequential Negative Count had begun Dec. 20, 2017 on the Bitcoin Daily Chart. That usually means there is a high probability of entering a Distribution Phase. I think we can now safely say we have entered that phase. Whether we proceed to a Negative Public Participation and Panic Phase is yet to be seen.

We can expect a high probability that the Negative Count will reach at least 9 before reversing.

You can see from the Daily Chart that there is support at the $8100 level, the $6100 level, and the $4000 level. Does this mean price will reach those levels? Who knows...but there is a high probability of approaching them before we change trends.

We did see some reaction at the 4 hour TD Sequential levels as predicted. The $13100 level produced a $1700 bounce and the $11,200 has produced a $1300 bounce so far. This are good areas to cover any shorts or if you like risk and going against a trend you could scalp a few longs at these areas.

We will keep a close watch on the price and provide any updates as necessary. But as of now, we remain in a Distribution Phase/Public Participation Phase....with the possibility that a Panic Phase may follow soon.

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(Disclaimer: This is educational information and not intended to be financial advise. Please conduct your own due diligence before making any financial decisions.)