my next try to figure out what could be possible in BTC the next days. Still I think we will see a further dip the next hours/day, the downward trend is still active (orange + black line). The shortterm upward trend is already broken now (cyan line), and changing (Arrow). Red dotted line marks the end of the BTC option.
I expect a further falling of prices, maybe just until the shown circle, maybe even further till the buy zone. After the closing of the future BTC-contract I expect a rally to mh lets say somewhere higher. The black curve shows an in my opinion possible option how prices could go...
I took a look on data of the CBOE contract also, just to get an idea where the big players are located at. I know CBOE is not but I couldn't find CoT-data for so far (any suggestions where to find them?). Still many of the big players are short in my opinion. But it's the from 16th Jan I checked, new data comes on 26th Jan, but after closing of the BTC option.
Here's the link to data http://www.cftc.gov/MarketReports/CommitmentsofTraders/index.htm
they come weekly every friday
Let's see how things are going. Do your own research, this is NOT a financial advice here!!!
Please leave yout thoughts on that TA here, I would appreciate! Good luck, all the best!