BTC/USD Price Forecast January 19, 2018, Technical Analysis

Bitcoin traders rallied a bit during the trading session on Thursday after initially dipping. However, I am a bit concerned that there is very little in the way of volume, and that is very likely to be a serious issue. If we can clear the $13,000 level, I might be convinced to start buying. Until then, I would be very cautious about putting money to work in Bitcoin, unless of course you are selling. The markets have been brutalized over the last several weeks, and essentially, we could make an argument for the bubble bursting. I expect that the markets will remain volatile, but that’s nothing new to Bitcoin traders as there is a serious lack of liquidity at times. I anticipate that the market could roll over, and if it does that will be a bigger fight at 10,000 than last time. However, if we were to hold above that level, this may have ended up being a great buying opportunity.

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BTC/USD Video 19.01.18

Leverage is going to be an issue for anybody who tries to use it, and unfortunately, we have seen a lot of retail traders doing things like buying Bitcoin on credit cards. This is a form of leverage that you should never do, especially with a very unstable market such as Bitcoin. CFD trading is possible, and that may be one way to take advantage of what has been such a bullish run. If we break down below the $10,000 level, we then go looking towards the $8,000 level. A break above the previously mentioned $13,000 level, could send this market towards $14,000 again, but I still am very leery about this market.

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