If $8000 bitcoin when will it happen. Maybe Jan 17-18ish bottom
The Stoch RSI dips on the daily chart indicate if we are going down further then its probably still a week away
Note
we are still in the channel that formed on December 22. We hit the bottom this morning, but it formed resistance. We will probably retest it soon based on the 4H and Daily charts showing the longer term downward trend. Once we break the channel resistance, watch for huge dumps and an explosion downward.Alternatively we may remain in the channel for a period of time and if we don't go lower than the channel and the Stoch RSI starts its upswing on the daily chart then I say we are going bullish and 12800 is the bottom of the lows.
For now I am staying out of the market and remaining in cash till I am certain which way this is heading
Note
On our way down to 8000 tomorrow as I predicted a week ago. Unfortunately, I exposed myself to the market impulsively and left the computer for a bit and returned to a disaster. Decided to ride it out rather than panic sell. This hasn't been fun. Should have known better and listened to my own advice to stay out of the market!! Trend Analysis tells us the bigger picture on this larger timeframes, we just need to heed its warnings!
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