I won't be using a lot of TA. Not an expert and it is not as effective with low vol markets like btc. I have been able to stay above water trading BTCs, which is better than I'd say 90% of people that try to trade BTCs. I will be making 3 analyses:
Bearish-bullish spectrum spans from -10 to 10, with 0 being neutral, 10 being full blow parabolic, -10 being crash to oblivion.
Price forecast
And news/ta analysis
12/27 - 12/29:
Current price: 720 btsp
Sentiment: -3
forecast: 780-550
-India's central bank taking early precaution to denounce bitcoin is bad news even if it is expected.
-Market has been a bit oversold last few days with China volume picking up.
-Could not break resistance of higher 700s... support could get pulled back near 700 and if broken flash crash may ocurr.
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FO3m2Zoq.png&t=665&c=S_53XVfIyK2Eeg)
This trend developing plus some setbacks may cause a longer decline. Late January is critical time as China will be more focused on bitcoin. Like I said though, all the exchanges are still following China. This is sad, a fake exchange could be playing everyone like a fiddle, and though I hope is not true, it could send bitcoin back to 100s. Though I doubt btcchina is faking it... their actual vol was very inflated bc of 0 fees and the influence of the fake exchanges.