Bitcoin entered the weekend with the thanksgiving dump, the question out there is whether this 20% will become the much anticipated 30% dump or will it recover?
Permabulls call this a black friday/cybermonday sale while others are preparing for a full on 30-40% pull back as history has shown. Only time will tell.
Speaking of black Friday deals, hardware wallets are 40% off this weekend if you plan to work with over $2000 BTC. https://shop.ledger.com/?r=3ee8cc1d808f
Happy Thanksgiving weekend
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- DPO analysis shows that BTC could be dumping
- 4 hour moving averages crossed and will likely be another resistance
- Network Value to Transaction in the peak area (historically followed by crash)
- Double top will be resistance
- Parabolic run has been broken
- Support could be found in the FIB range
- Lots of volatility, lots of people will be liquidated
- Currently below 7 day and 14 day MA
- 20 EMA will determine bull or bear (at 13k)
- Currently lots of support at 13k
- Compare to Gold: gold had mini pullback right before ATH before breaking.
- ETH is consolidating between 500-600 as it waits on BTC's next moves
- ETH could be worth 50k if it continues to follow BTC's 2016-2017 trend (currently it is following spot on)
- Whales are still buying up BTC
- 17.4k is a resistance (3x support in the past)
- Averaging into the market
- Chinese police Seize 4.2Bil crypto from Plus Token Ponzi. Funds forefeited into national treasury
- They have a huge potential to impact market (eg. Dump the crypto)
- 5Bil withdrawn from OKEX
- BTC saw around 8-9 30% pullbacks in the 2016-17 run
- We only see a 15% baby pull back
- Institution buyers are waiting at 13-14k to load up
- CME overtakes OKEX as largest bitcoin futures market