FlorisBouman

A good yea, a new year

BITSTAMP:BTCUSD   Bitcoin / Dolar
Btc             has been in a downtrend since the second time it failed to break 20k.

Some fell for the bulltrap when bitcoin             was oversold near 11k in a panic and experienced a bounce.

in that bounce, on bitfinex BTC             never broke 15k             (despite reaching 149** multiple times).

To me this indictated a clear failure to break out of this bearish trend which I believe was triggered by a self fulfilling prophecy of a needed correction, bull exhaustion culminating in failure to 20k multiple times, as well as FUD surrounding bitcoin             cash/flippening (I consider it a possibility, albeit unlikely) and charlie lee's tweets.

Now I expect no bullish action for the rest of the year. Many trades and investors will be looking to cash out before new years for tax purposes, and generally buyers take a break during christmas/new years holidays.

I cannot see 10k being broken, and if it is, there would likely be a violent bounce, which would consolidate above 10k.

Once there is a increase in volume anywhere from 9-12k, AFTER jan1, I will enter
Komen: I was wrong but be careful
Fully agree.
Balas
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