BTC short term price action

11 янв. 2018 г.

Failing to follow the 50 day and closing near that level could bring the price back to the 100 day MA for a few days. Then failing to close above previous support ($12.5-13.5k) could "burst" the bubble, touch the 200 day MA around 8k and close right below previous support, which is now resistance. Then we could see a downtrending consolidation around $10-12k. Touching the 10k support a few times over a week would confirm the price and reverse the trend, which could be followed by the usual FOMO if some nice Bitcoin news pop out. Otherwise I guess we'll see a much slower uptrend and possiby Ethereum taking the first place. In the end, a scaling solution, such as the lightning network (even if it's not a good one) can rocket Bitcoin's price up.