Daily Crypto Analysis 1/25/2018 - (BTC)

Here's my updated chart and it looks like we could be nearing the end of this very, very complex correction. I still have a target bottom at around $8.6k based on the fibonacci retracement tool aiming for 61.8% retracement. As you can see in the chart, the selling pressure is weakening as less and less people are willing to sell their BTC at these price levels. Eventually, as the price action contracts, expect a breakout as soon as the price dips below $9k as sellers become scarce and buyers become increasingly more willing to bid up BTC price higher.

As you always should do with technical analysis, you should always readjust your chart if the price does not follow your projected path. More updates to come.

https://www.tradingview.com/x/XyuGP476/