If one looks closely enough, there is a distinct pattern of market manipulation to push up the Bitcoin price. Just as seen in 2016/2017, there is a 4-step program which whales use to create a buying climax and a subsequent price peak. This peak is normally evidenced by retail FOMO, mass media reporting, outlandish price target calls and of course crazy overbought technical readings (RSI, MACD, etc.)
So with that being said, the whales and miners can certainly deflate the Bitcoin bubble here once again and push prices all the way back down to $5k before bottoming out. Yesterday (1/11) was the single most volatile day as price ranges went absolutely ballistic. This is usually a sign of mass hysteria from both bulls and bears as the market behavior switches trend. This exact same behavior occurred during the late-2017 BTC top and early-2018 ALT coin top as well...
So with that being said, the whales and miners can certainly deflate the Bitcoin bubble here once again and push prices all the way back down to $5k before bottoming out. Yesterday (1/11) was the single most volatile day as price ranges went absolutely ballistic. This is usually a sign of mass hysteria from both bulls and bears as the market behavior switches trend. This exact same behavior occurred during the late-2017 BTC top and early-2018 ALT coin top as well...
Order cancelled:
Bears unable to further capitalize on last weeks plunge so far. Until $30k is breached, let's put this idea on hold. Over $42k and it looks like $60k would be the next target...