careful at the bottom of the trading range..tight SL in case H and S triggers
UnknownUnicorn995432
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I think this was a dead cat bounce. We will see prices falling faster over the weekend. I also think we are looking at a bear market for a few months now.
SEC will not approve BTC ETF. They have already outlined the five areas they are going to focus on. BTC fails or is at least in the grey zone in all of them.
Add to that, The anonymous accounts ban by South Korea starts from tomorrow, i,e. 20th January 2018.
HudZ
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@doctorkesh, SEC didn't get us to 21k. US interference into the global market is going to keep declining if we continue to ignore what the rest of the world wants. It's called being mutual.
UnknownUnicorn995432
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@HudZ, yeah well that's the problem. The rest of the world is all going to be coming after cryptos soon. Their economies are fragile already and cryptos are a direct threat. China is creating a model without cryptos and will prove a point. Others will follow, sooner or later.
All is not going to be bad though. ETH, NEO, XRP and IOTA will likely succeed and thrive. They all have their own different models and are basically next gen with other developments driving them.
UnknownUnicorn995432
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Good chart.
The volume is very poor to suggest an uptrend. Red bars are still above green bars mostly. It does not constitute a trend reversal in any way.
fred0002
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No indication that we on a downtrend. Just because it's under 12k for like 1-2 days doesn't mean anything.
malk
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@fred0002, I'm just comparing to previous reversals.this one is rather slow.