Bitcoin Technicals: December 22, 2017

Published 12/22/2017, 08:45 AM
Updated 07/09/2023, 06:31 AM

Bitcoin

Bitcoin BREAKS very important support at 13400/200. We are in a bear market. Holding below here targets first support at
12900/800 which is being hit as I write. This is now is the most important support of the day as we collapse another $3000.
Failure to hold above 12600 is yet another sell signal targeting 11100/000. If we continue lower look for 10800/700. We will
then have collapsed almost 50%. The sell off after a parabolic top is frighteningly fast - I did warn you.

Holding the 12560 law (as I write) means the important 12900/800 support has a chance of holding the downside. This allows a
recovery to 13650/700 & strong resistance at 14200/300. Gains are likely to be limited but above here look for strong resistance
at 15300/400. I doubt we can make it any higher at this stage.

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