BitcoinPanjang
BTC at critical support at $8800 level.
BTC is currently sitting at a critical support level of $8800 USD.
Bitcoin needs to complete it's 5th wave past 10K for many alt coins to complete their own 5th waves or cup+handle breakout.
News that the Mt. Gox trustee has transferred 16,000 BTC and 16,000 BCH from off of cold storage and (the rumor is) on to an exchange.
Who knows? Could plan to sell tomorrow or in a few weeks. Or even not at all.
My guess is we bounce from this level and any whale selling to be done, takes place from $11,000 to $11,800.
Bitcoin needs to complete it's 5th wave past 10K for many alt coins to complete their own 5th waves or cup+handle breakout.
News that the Mt. Gox trustee has transferred 16,000 BTC and 16,000 BCH from off of cold storage and (the rumor is) on to an exchange.
Who knows? Could plan to sell tomorrow or in a few weeks. Or even not at all.
My guess is we bounce from this level and any whale selling to be done, takes place from $11,000 to $11,800.
Penafian
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