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5 Jan

The bullish breakout that happened late December was quickly corrected. FORBTC grew by more than 100% just to fall back down, we can get some useful information out of this.

The low hit yesterday, 4-Jan, remains as a higher low compared to the start of the initial bullish breakout. Even though there was major force pushing prices down, it did not take the pair to new lows.

If FORBTC ended below 46 satoshis it would be a signal of weakness. Seeing that it held at 47 on a wick, session close 50, means that the bulls were ready to buy as soon as the selling pressure ran its course.

Whoever wanted to sell did so and this opens the doors for bullish growth.
Since we saw 100% in just three days, we can see 200% easily in the weeks to come.

Growth potential can be much higher if we consider a period of months.

Namaste.