Bitcoin (BTC): Jan 6 2015 recap

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BTC is following its fractal perfectly, and it has finally short squeezed and moved up today, Jan 6 was a key date discussed in the members chat. However this will be short lived. The fractal playing out is not done yet, plus there are the issues with Bitstamp still looming. Then as the 6th turned into the 7th the bitcoin from the Bitstamp Hack began to move.

 

I waited to publish today’s recap to see how much of the coins would be moved. It started as a slow trickle, but a couple hours later almost all the coins have been moved. It is not that many coins in the big picture (18K BTC), but enough to cause a market effect once traders become aware of the situation. Bear markets are very dangerous for most traders. News or no news BTC price was going down over the coming weeks. This is just more assurance¬† that it will.

 

The chart below is from a couple of days ago. It is playing out nicely, and we expect it to continue the tend.

 

you are here BTC jan 6 2015

 

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