remember price started at 995$ last January ... everyone please calm down, this is just a correction a long one, but really when you step and look back its been only 2 months out of a 12 month year. price will rise to astronomical levels again no doubt
@dchua1969, every single floor will retest at some point or another, 105 has never been tested it got skipped along the way and will retest before our journey back up.. just like after every daily run there is a 60% + retracement they all do it every single one .. might take a day may take a week but they will retrace and retest. For some reason the 105 floor is taking forever to get to along with the 8200 floor for BTC once this happens it'll be all moon shots until its time to retest again.. the coin just got done a 4 month growth from 51$ Sept 15 to 360$ on Dec 18th one month of consolidation is nothing, I think there is 2 weeks or another month to go and back to the races .. can't go up forever lol
We've still managed to make a higher low... we need a rally to the to higher high to confirm bull move, or a break of the 164 support to confirm a continuation to the downside. at this point we could still be establishing a higher low. Keep a close eye.
@tysonbieniek, thanks for your comments. There are just too much noise going around, some say there are big boys pushing up the price at 10,000 level and that is why it still has not gone below that as most shortist would love to. Yup, let's see the next move
@mortonpeak, thanks for your comments. I am not too sure about buying if it really falls to the 8000 or lower price level. Would there still be demand ? Assuming there is, would the waiting time be long before we see the kind of parabolic returns again?
@dchua1969, I am more friendly toward crashes than I was last week. BTC is a bull on a hamster wheel, confined to do menial tasks. But if falling to 9K means that it builds up a 20% return within one day, that is enough to build good hedge funds.... thus, demand at 8k will be very intense, and drive short term gains parabolically. But to 19k? Not soon...