in this chart, we can clearly see that bitcoin is still following the downtrend line and is still seeing bearish momentum. Why is this? well we usually see a sell off during december, but bitcoin has been greatly pumped and over extended and needed a massive correction. This is what we are currently enduring, but for how much longer? people are throwing around figures of $1000, $6000, $8000, while others believe it wont go down much further...I see from this chart that not only is there more bearish movement to be brought, but possibly a lower low down to $9000-$10,000 levels. The fundamental reason behind this, is that Ripple is now taking the spot light, and showing people a currency with instant and free transactions, A huge improvement from bitcoins current speeds and costs. Can Ripple dethrone Bitcoins market cap share? realistically yes, and possibly this coming january. So for all those holding, i would personally get out now and get into tether or ripple. Those looking to buy in, wait for lower levels.
better view of the TA