Low volume, FUD and next news will make this correction deeper than now.
If you compare the correction of November 2014, the pattern is almost identical and the good thing is that after this correction BTC should reach 30K zone before another correction.
The new recent trend line will be broken again, but the price action around 5.5k should be the bottom of this correction and the cheap price at that point should open a huge amount of limit buy orders and an ignition for a new injection of capitals from big investors.
And....what if at that point the US tech stock market start the correction? Where the capitals go at that point? Guess!
I am pretty sure that most of the money moved from Crypto to Stock starting in December but at some point some of these money should back again in the crypto again for the new pump....
If you compare the correction of November 2014, the pattern is almost identical and the good thing is that after this correction BTC should reach 30K zone before another correction.
The new recent trend line will be broken again, but the price action around 5.5k should be the bottom of this correction and the cheap price at that point should open a huge amount of limit buy orders and an ignition for a new injection of capitals from big investors.
And....what if at that point the US tech stock market start the correction? Where the capitals go at that point? Guess!
I am pretty sure that most of the money moved from Crypto to Stock starting in December but at some point some of these money should back again in the crypto again for the new pump....