BTC has three resistance lines to push through, the turquoise one at 11750, the downtrend line (orange) and the 12k, where possibly sell orders lurk... two of these will vary a bit depending on exchange...
I'd be surprised if this wouldn't be messy.
So the red-green waves might be a possible reaction, down, up, down, up... but not to worry.
The market makers keep pushing us up with positive messages just as they struck us with FUD two weeks ago,
there were three or more positive headlines today, one from Paypal.
Meaning Wall Street WANTS this to go up - question is, how high before they cash out and take all your money ?
On the whole, it's looking way better now that the institutions are showing their hand.
We might see some rapid growth again, but please mind that the green and red Elliotts are really just free association.
So we just came back from walking doggy and here's what happened to the chart - see what I mean ? Sink or swim folks ;)
Oy vey - is da truth ! To quote a Steemit Massive prophet, "As I said you yesterday, the bitcoin will test resistance and either go up or down." And that's one of the honest guys. Well, my guess is we will bump against those ominous resistance levels again at least once before we break through, there's four of them in convergence right now.
If that leads to a further dip BELOW the diagonal lower orange channel border, we might see a few panic sales.
No problem really if you have the patience to wait it out, but expect no sensations in February.