In my opinion the droping is stoped, it was becouse of Christmas selling, some of people want to get money from Bitcoin and the price started falling down, then other poeple in pannic started selling their coins. Now I think is stable and the price will slowly rise.
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Looks like the dropping might be stopped indeed. The wave II of the expected last wave is already higher than IV of the prior so this looks like a bull run. Plus there is the inverted head and shoulder as pointed out by @dziadkowcem below; with the volume confirmed on the head.
Maybe there will be another separate downturn soon that will bring this down to 10k as @haejin predicts here. Or maybe some news will lead to it (as @Haejin said news should follow the TA.) On the fundamentals, what triggered this downturn was severe withdrawals for the holidays as happens on major holidays and the heaviness of the valuation sending weak hands along with it. The New Year holiday usually extends straight from the Christmas one and I doubt that fundamental will cascade the price down afresh like it did yesterday. So there isn't looking like another fundamental event on the horizon to send this back down again, looking right now. Follow @kenraphael for some fundamental analysis to sometimes pair with the really excellent work here.
We are close to being overbought on the 1 hour charts, as haejin says "price always drives the movement of the charts", I have seen a number of analysts with almost the same type of analysis as well. Then when the price dips again to 10~9k levels you will say people went for last minute christmas shopping to explain the event :)
You hope.
So do I , waiting for that damn dip since hours ;))
Me too. I need to sleep. 😂
That’s optimistic. Bravo.