Tomorrow is January 15 and instead of crawling upwards as Bitcoin did on the last 3 previous bull cycle did, Bitcoin is heading down.
> Bear: $400 might be retested in the next 48 hours, if we fail to hold above it and break it, I expect a washout to reach AT LEAST $348 approximately. However, if volatility picks up we could see much lower down to 325-315 area and even worse to $275 before a recovery.
> Bulls: If bears fail to break the support we currently have around $400-420, I expect more sideways to be on the menu. But now the megabull cycle occurrence is becoming very questionable and the longer it takes to happen after January 15, the less likely it is likely to happen.
If the bull cycle fails to happen, it could bring a rest to the fact that Karpales really had Willy the bot setup to perform those cycles in Bitcoin and nothing more.
I will be publishing a chart shortly.