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Bitcoins are Going From Weak to Prepared Hands

I am going to assume there's a lot of pain lately especially for new bitcoin investors. Even as a slightly earlier investor, bitcoin's slide from the ATH around 20K to 9K hurts. But for those selling at 10K or 9K, I can't understand the rationale. There must be many emotional sellers here around 10K. 

On the other hand, those buying around 10K, 9K, down to 8K are those either prepared for and even anticipated this dip, or those that simply got lucky and got their funds wired just in time to scoop it up. 

BTC/USD Daily Chart

I am anticipating price to rebound if it gets to 8K, but it wouldn't be surprising to see it dip to 6K. At the same time, price might be anchoring above 9K already. 

Still, from the daily chart, it looks like the downward momentum is strong and we should indeed anticipate further downside to 8K. 

We are starting to see strong volume again, a sign that bitcoin is changing hands, from the weak to the prepared. But we will need to see even stronger buy volume before the weak hands are shaken out and the market will then pivot BTC into a bull run.

Litecoin (LTC/USD) Anchoring Above $140

Bitcoin Going to $8,000?