BTCUSD Bottom in sight, but where do we go from here?
With the ill timed and expensive #hashwars happening and two $btc billionaire selling their Bitcoin and Bitcoin cash to fund it one can clearly see this isn't a normal market correction. So where do we see this bottom?
The strong support we have gained over the year between 5800 and 6200 has broken, as has the 5000 to 4800 support levels.
We have strong support at 4200 which can be seen from the volume well, if this breaks we could see a $3000 bitcoin.
With the postponement of the Bakkt exchange till January i see a bounce from 4200 and a consolidation in the 4400 to 4800 range.
With market sentiment being the way it is currently i cant see any sort of news that will bring the volume and liquidity back into the market for it to break back above the now strong residence.
The strong support we have gained over the year between 5800 and 6200 has broken, as has the 5000 to 4800 support levels.
We have strong support at 4200 which can be seen from the volume well, if this breaks we could see a $3000 bitcoin.
With the postponement of the Bakkt exchange till January i see a bounce from 4200 and a consolidation in the 4400 to 4800 range.
With market sentiment being the way it is currently i cant see any sort of news that will bring the volume and liquidity back into the market for it to break back above the now strong residence.