Is Bitcoin Going on New Year's holidays?

Technically, we trade under the support level, 20EMA and 50EMA crossed 200EMA, all indicators are in the downtrend, so far everything doesn't look extremely optimistic for bitcoin. The next potentially interesting for purchases is in the area $ 5,500 - $ 6,000, where there is a large concentration of stops -orders, which the market makers are likely to follow. Now a slight correction of the price for a mirror-level retest of $ 7,400 is possible, if the price fails to break higher and gain a foothold over it, a further decrease is expected to below the esignated area of about $ 6,000.

Fundamentally, there were no strongly negative news that could provoke the current downward movement, as a result of which the current movement is more like the artificial pressure of smart money to take bitcoins from weak hands for the future global upward movement.

Also, our analysts noticed an interesting similarity with the movement in the month of November 2018 - during this period we had a speculative upward impulse, after which there was a breakdown of the level down followed by a prolonged flat. At the moment, a similar scenario is possible on the market. Recently, we also observed a strong upward impulse (+ 30%), after which we went down smoothly and broke through the support level of $ 7,400, and now we are moving to the area of $ 6,000, where, perhaps, there will be a long flat before the beginning of spring, when everyone will begin to remind everyone again about bitcoin halving and the media will begin to receive new positive news about a possible spring altseason, since statistically in the spring there are often good movements in altcoins. Together, all this should give a good impulse to the entire cryptocurrency market after the crypto winter.