Now the 1st support zone holds the market and it can be a starting point for a new upward movement. We can spot a double bottom chart pattern which gives us a possible trend reversal signal. This pattern will be realized as a reversal one when the market moves above the previous swing high. If the price breaks the downtrend line and rises above 15000.00 level, we'll get confirmed trend reversal signal and a new buy opportunity. RSI confirms price reversal from the 1st support zone. MACD supports the upward movement and DMI allows opening long trades. Entry level is 15100.00 with stop below the local swing low at 11500.00 level. Profit targets are 20000.00 and 25000.00 levels. The part of trade can be left for long run. Alternative variant, if the price bounces from the downtrend line, probably we'll see further downward movement to the 2nd support zone. This zone looks more solid and it's better for opening long positions.
P.S. You can read more details about these support zones in my previous post about Bitcoin. The link is below this post.
My view is different. I think it's going down after one last bounce & another failed fork on 28/12.
kivo
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@DrJLT, i was also expecting the same pullback but i am not sure anymore ...
DrJLT
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@kivo, People have gotten used to things happening over night. I think this will be a slow drain. Part of the "maturity", going "mainstream" that btc supporters have been hoping for.
vijay.prht
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@DrJLT, Should i go for Segwit2X.what are pros and cons