Bitcoin price opened in 2016 with a morning star breaking through 2900 and the falling low of 2560 became the bottom

The 2560 analyzed last time is not a technical point and must be broken. Judging from the current market development, it is wrong.

These days I have been thinking about whether the analysis I made on December 13, 2015 that 2500 is the dividing line between long and short is valid. Now it seems to be valid.

"Analysis of Bitcoin Market after the Plunge" written on December 13, 2015: Today, Bitcoin, because of yesterday's lowest point of 2665, did not fall below the lowest point of 2550 on December 8, when Bitcoin chose the defense line, so the trend is still upward.

2500 can be said to be the dividing line between bulls and bears. Above 2500, the upward trend remains unchanged. If it falls below 2500, the trend will turn downward.

Because the falling low of 2560 is just before 2555 on December 8, and it has rebounded so much, it has already formed support.

As long as the Bitcoin price breaks through 2900, the low point of 2560 will become the bottom.

The Bitcoin price formed a morning star on the opening day of 2016. This is a good sign. We hope that the bulls will continue their efforts and strive to break through the Great Wall defense line set up by the Air Force in the 3100 area. As for whether they can reach that level, we will have to wait and see.

This market itself is a battlefield without the smoke of gunpowder. Since it is a battlefield, we cannot respond to ever-changing situations with a unchanged attitude. Instead, we should always maintain an attitude of change to adapt to the ever-changing battlefield.
 
Solemn statement: The above analysis is for reference only and is not intended as any investment advice. You are responsible for your own profits and losses.