Why Bitcoin's not Crashing!
The December push to 20k was pure mainstream hype. The pullback to 13.5k was a logical correction.
Accounting for this anomaly and placing a Fibonacci at the new rational peak and bottom of Nov to Dec, the current support of today's break down, falls exactly at the 0.382 Fib level. Price action wicked below this level today but has steadily retraced itself and is pushing back above $10,100.
As further confirmation, accounting again for December's anomaly, places us at the standard 35-40% corrections Bitcoin experiences when naturally pulling back.
Look for final confirmation of reversal at the convergence of the .618 Fib and the 12 MA - around $12,3k on Jan 22.
Or in other terms... BTFD
Accounting for this anomaly and placing a Fibonacci at the new rational peak and bottom of Nov to Dec, the current support of today's break down, falls exactly at the 0.382 Fib level. Price action wicked below this level today but has steadily retraced itself and is pushing back above $10,100.
As further confirmation, accounting again for December's anomaly, places us at the standard 35-40% corrections Bitcoin experiences when naturally pulling back.
Look for final confirmation of reversal at the convergence of the .618 Fib and the 12 MA - around $12,3k on Jan 22.
Or in other terms... BTFD
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