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Bitcoin Price Prediction December 26th!

Bitcoin price

Bitcoin Price Prediction December 26th! Above is the 4 hour chart showing a 4 hour uptrend getting major resistance at $16000. On a time scale Bitcoin is on an 11 for the 4 hour with a Doji usually a reversal indicator for Bitcoin. Parabolic Sar is in a uptrend look for this to be broken before any major downswing occurs. Stochastic RSI is ready to cross into the lower range. CME futures are back this might be the biggest problem for the Bitcoin price. Since they started Bitcoin hasn’t seen a green day.If the 4 hour goes red expect more selling.

Koreans leading the way with Bitthumb and others over $20k at the moment. I know everyone (I’ve heard) here says that the Koreans and to a lesser extent the Japanese are crazy about gambling and seems to attribute the exhuberance there to cultural attitude.

Are there any thoughts, other than a difficulty with arbitrage and more interest in speculative investment, about why these markets are more volatile? Anyone think they are reliable / unreliable leaders? Seemed like GDAX led for a significant portion of the mid December runnup, but the Korean exchanges and Japanese exchanges alternated leading before that.

Any chance we’ll see other countries (I.e. Venezuela / Zimbabwe / other fiscal disasters) enter the market with significant volume in the near future?

I know it seems like we are simply wasting away to nothing. The price cranks up a bit and it just cannot hold it there. It could make one wonder if any of this is worth it.

Now the somewhat good news. This pattern is nothing new for Bitcoin. Throughout the past year we go up, we drop back sharply and then we oscillate for a couple of columns. The columns are longer (because I did not adjust the box levels) meaning the dollar values are greater—but the general pattern is a fractal thats been going on for over a year.

Now, if you combine this with all of the new money that rushed in—got slammed—and now is leaking out, it is not a shock to see where we are this afternoon.

My advice to anyone trading or even holding, is to take out a calculator and figure out where your ultimate pain point is. Mine is somewhere near $7500 and change. So these movements are well within my “pain range.” For my long term cold storage…the pain range starts in the mid three figures. So, you can see that if you think I am a delusional “half full” guy, I have my mind wrapped around where I can go. It helps me sleep at night.

For those of you celebrating Christmas this weekend, or the solstice (I’ve been to a couple of those…they were fun!), or just a long weekend off from work, please accept my wishes for a peaceful, fun time.

Not so fun in our house. My 95 year old MIL is on O2 and confined to her bed, my mom went on hospice Thursday, my son in law is somewhere in Africa doing god knows what for a government I cannot stand, and my daughters are both away for Christmas. Plus my siblings are senior citizen douchebags.

Point and Figure https://i.imgur.com/AQieWy6.png We are now in a column of 32 X’s this year. This is a very long pole. Only 3/58 long poles have gone past 32 X’s. A pull back to over 50% of our long pole would put us under 13,849. We are overdue. Our range is between 10k-17k. Sorry for the large range but it is what it is- Bitcoin is very volatile.

Yesterday’s Break Out https://www.reddit.com/r/BitcoinMarkets/comments/7lzfy1/daily_discussion_monday_december_25_2017/drqrolx/ What a great break out play yesterday. I don’t usually post my lines for break out because I don’t like to get front-ran but I went ahead and did it in the spirit of the holiday yesterday. Hope you all got long and had a Merry Christmas.

My dad’s warning. On christmas eve I was asked more about Bitcoin than ever before. All the men in my family are very bullish now. I was telling my dad the bear argument for Bitcoin to counter this bullishness, because I feel that we will eventually correct over 50%. Hard to say when, but it could be this pullback, or it could be in the next couple pull backs. I spent a while telling him that bitcoin is not really valuable except for the value people put on it. My dad who has told me to sell my bitcoin several times in the past told me that I should go back and read some of the emails I have sent him over the years about bitcoin.

So I did. And most of the things I wrote in those emails are true today. Bitcoin does have value. Thanks dad.

Resistance Levels https://www.tradingview.com/x/BxXAPkv1/ So lets take a look at that break out chart we posted yesterday. We easy broke through our first resistance levels, which isn’t too surprising because we had broken those levels only days before. The real resistance is between here and 17k. This is where the 62% fib and volume profile node is as well as some daily levels. The chart says 2hr cloud is there but that is no longer true (its been a few days I have been watching this resistance area).

The Bear Argument. Don’t strawman the bears! A lot of people I respect, like Peter Brandt, TheGimp, and some great traders on Whalepool.io are bearish. All of them were calling for 16-17k BEFORE going deeper than 10k. So don’t dance on their graves yet. Most of them were probably long for this run up.

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