The market is looking pretty red these days. The end of the year is looking pretty grim and it seems that 20k was the absolute ATH for now.
But so far I am not ready to call the crash coming just yet.
But we are close to the parabolic uptrend. If this is broken thru to the downside this may trigger a longer term bear trend.
However so far it seems like we are still in the progress of forming an Elliot ABC correction and if the support where the parabolic uptrend and the red line meet hold, we could form a new rally from there in January.
This red line is the upper line from the previous channel which was broken after 5 attempts around 8200.
So at this point I am looking for the completion of the ABC correction above 1100, to confirm the parabolic trend. If that does not hold the next support would be 8200.
So as long as we stay above 8200 I think we cannot assuming we are in a real bear market, but once we break below 1100 I feel that the bear market has become much more likely.
Summary
It looks to me like we are still correcting from a very long run that is part of an overall bull trend. As such it still seems to that we are correcting within a rising market.
I feel like it just took a Rise way too fast so it needed to slow down wish a crash. But this is just the start , 2018 will offer lots of ups and downs as well .
Exactly! As we've seen countless times, any quick growth is always followed by a small crash, but then it stabilizes at a stronger support level than last time. Also, every peak before a crash shows future potential;)
Deeply agree with you after I done my homework and analyse the price. Check it here #23. Happy new year 2018!
Thank you for exellent and useful informations. Resteem - Happy New Year my friend
Saya belum pernahendapatkan upvote yang banya, tolong kawan2 beri saya upvote yang tinggi, terimakasih
We need to wait if there will be new buying power coming in next week. Until then it seems nobody wants to burn himself so I guess most investors are just waiting.
I'm quite surprised though, that there is so much action going on on the last meters of 2017.
Crypto never sleeps!!
Auch dir einen guten Rutsch und ein noch bessere Jahr 2018!!
I'm not actually sure that any crash can last. Just on Coinbase, there are so many customers having automatic monthly buys that Bitcoin price simply has to grow linearly (given that they keep buying monthly of course), although this minimum linear growth could be at levels way lower than those we see today.
Considerable analysis, thanks! We should not forget that we are above 10K since only ONE month. Perhaps some people have become too greedy (of course not you!). In the beginning of this year we started below 1K. Nobody could imagine at this time levels around 20K. So lets stay calm and HODL as always.
I agree! We shall HODL to the last drop of our blood. I'm sure that this is only healthy correction. Levels around $10k will hold (check my analysis #23) and in the beginning of the next year we will be above the clouds again. I like to use an Ichimoku cloud indicator when analyzing charts. This Japanese people have so colorful imagination.
Happy new crypto year 2018!
Nice analysis. Everybody is waiting to see completion of correction and start of upward trend.
Great analysis! We're both on the same page. :)
I definitely think we have more to do. Also, I think a lot of the other alt coins are getting a lot more hype and exposure, so I don't think it'll be too long before BTC loses market share. When that happens, I don't think price will keep the course it has been.
I agree with you and according to forecasts of analysts Bitcoin will cost 20,000 dollars by summer 2018. Thanks @knircky
Thanks a lot for sharing and discuss about bitcoin..I appreciate to your post..Carry on my friend ..Happy new year my friend ..Resteemit..
Nice post..Thanks for information..
The bitcoin is very risky, the bitcoinle process is very slow, the bitcoin should stay away from the beginner everybody until it comes to a certain level.
great analusis
@RESTEEM
your analysis just superb
@resteem done ,sir
i agree with you, it will hit 20k next year by march.
I definitely think that we are heading back up. I bought in at 17,000 when everything was on the up and up. I'm still confident that we're going to rally up to about 23 just pass January.
I'm confident that your confidence is shared by many! :)
I am not yet crashing. Absolutely great post. I like your job. Following you and upvoted. Thanks, happy new year 2018!
Thank you for sharing this information with us
It goes down n down n suddenly goes up lol
Roller coaster!
nice post, thanks for sharing
Around 10k is a good support. I am buying ltc on the dips.
I come to the same conclusion. Check how: #23.
Thank you for this analysis! If we were to break 8200 to the downside, how low do you think it falls??
Gd analysis my dear @knircky sir.
Agree with you hoping soon it'll back!
Wow great news.Thanks for the news sir.....
Resteemed
This is the real time when everyone should show their strength of 'HODL'...
I hope it Will last.. celebratie new year and go for another great year.. 2018 must be the year for me after 2017 i made all beginner mistakes
The bitcoin is very risky, the bitcoinle process is very slow, the bitcoin should stay away from the beginner everybody until it comes to a certain level.when btcoin price getting low we feel bad and when btcoin price getting high we feel good.....That's nature.........
Vielen Dank für Deine Analyse.
Ich bin auch "tiefenentspannt" ! ;-)
Komm gut rüber ins Jahr 2018....!
;-)
I would say we see 10k bitcoin soon. I want to pick up some Steem on sale! :D
you are right @knircky
Great explanation, but I'm not sure anymore that the rules, diagrams, and every other one apply to cryptoelids, and especially not to Bitkoin, is the only one, if he leaves, to leave everything, so that we can wait for the New Year with peace.
We may be in a bit of a downward trend, but that is good. Everything is overvalued and it needs to come back down to Earth for a refueling. Then off to the moon again it will go.
JGV
I think this is exactly right. Following you.
It's just following every year's trend. Just before the new year prices always go down for most of the coins and I don't see any reason why it should be any different this year. But yes, as you side, It's all gonna start moving up from january.
Thanks for your effort!
Bitcoin may continue to go down but i believe that it WILL survive this!
i trust xrp, but the problem is that banks that are screwing the crypto-market. so i believe bitcoin will definitely come back again.
Yeah, the $8200 will probably hold because before that level is also 78.6% Fibonacci retracement level $8700 to the Segwit2x crash level ($5400). I hope that will hold my one $9600 from harmonic patterns in my analysis #23.
Anyway corrections is not so bad think at all. Provide nice entry points. The trick is to predict the bottom as much as accurate as possible.
p.s. Thanks for your upvote of my analysis. I'm still tiny minnow but with big heart and devotion to Steemit. Hope I will prosper as you already have. Folowing you and be glad to be your mate here.
I do not think so
My point of view the 10700.00 level will hold
https://steemit.com/bitcoin/@lordoftruth/bitcoin-trend-31-dec-2017-a-picture-is-better-than-one-thousand-words
Happy New Year
Little dump and then way to $30k 😁
good analysis thank u my dear friend
now a days bitcoin price are unpredictable, we just can watch it.
https://steemit.com/flowers/@tjunaidi/the-flowers-are-red-a0d9ee07b97c3
https://steemit.com/flowers/@tjunaidi/the-flowers-are-red-a0d9ee07b97c3
In BTC we trust))
thank u for useful information
Happy New Year
Happy New Year
Nice analysis and great presentation my friend !
All the best for new Year !
Bitconis werden auf ihren Nennwert fallen. Der liegt bei 0 USD.
Bitcoins will fall on their face value. The is at 0 USD.