Bitcoin analysis. Bitcoin experience major correction, but storm is almost over (#18)

Bitcoin retreat for some bigger extend was expected for quite a while and this is what is happening right now.

Our Reference is 100% Fibonacci retracement level from beginning of December. Correction was expected as future markets on CBOE and CME was signaling. Future contracts was pointing on $14k to $15k levels. It had been looking scary, but such volatility is common on so small markets as crypto currencies market is.  Waves on crypto ocean are much bigger comparing to waves on Forex markets where 1% swing is alarming. Here in crypto we have to get used to much bigger waves. Bitcoin, our small fishing boat, need fearless crew of traders prepared to face with all kind of storms in the future. So we have passed the eye of the hurricane (remind me to the film "Perfect storm"). We need to squeeze the fists and build some new solid positions for new adventures. My last Bitcoin transaction at around $15k had been stuck in flood of transactions on the blockchain. I'm a little angry because of slow transaction processing, but now I feel that it'll be confirmed just in time to draw a smile on my face.

So where we are heading? MACD indicator is in downtrend but RSI oscillator shows some mild divergence and this is a clue that a correction bottom had been reached. We can expect at least uptick to the $16k level (38.2$ retracement level) so an opportunity for some nice inter day trade is showing up. But I believe that we are on the beginning of another main uptrend with main target around $30k (next mayor Fibonacci extending level in relation to the last all times hight) in first few weeks in the new year. 

As you might say: "Your's words should turn into gold!" 

Other altcoins doing just well! They experience moving funds there, when Bitcoin sucks and funds go back when Bitcoin shines. One big happy family, we can say.

With this encouraging words I wish you marry Christmas and happy new year 2018.

Previous analysis: #11, #12 , #13, #14, #15,  #16, #17. Is good to check them out to get insight into my reasoning.

Image sources: Investing.com, Data sources: Bitfinex exchange

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Let steem on, to the bright future!