stejas

Why Bitcoin may not break the 2.8K level until March

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC had a support of 6K for almost 6 months. We have just hit 3.2 K and 3K seems to be a strong support. We could continuously test the 3 - 3.5 K range for the next 2-3 months, but we are unlikely to hit lower than 2.8K unless there is another major bad news coming.

We will neither see BTC rise nor drop for the next 3 months, unless we have major news in either direction. If we don't recover by Mar 15, we will go down to 1.5K (without any negative news).

Also, current interest in BTC is up to Jul-Sep levels now (see google trends data - last week of Dec and first of Jan are aberrations due to vacations). We will need to see the interest level drop below last week of Oct levels to break down further from here
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