Thank you again!
I would expect rather heavy resistance in the 15-15.5k zone for BTC. Do you think that even if this was the start of a longer and more drastic correction, we would still reach back to 16.5-18.5k first, i.e. that the market is not ready to drop further down from 15-15.5k?
Now with the added incentive through futures, hedge funds might play the market differently than we've seen during the year in general, which makes any predictions even more difficult than usual. So, obviously no-one has a crystal ball and I understand the above isn't so much a personal opinion than a prediction based on quantitative analysis.
If you look at my targets the first one is @ 89WMA (brown) - $16595. That is where the strong resistance is and that's where we are going to have a pullback from before we continue higher.
I don't expect any further downside because what we had was a regular Year End profit taking. The down move was exacerbated by the newly available level of leverage and virtually unlimited fiat liquidity through futures.