![btc logo.png](https://steemitimages.com/DQmcrK9BHzn2RptizKkYxvYSWV78AEw3fgCodGc1RvnMkEV/btc%20logo.png)

At last it seems, Technically at least that the mini crash (yes, that wasn't a crash at all) is over, and with multiple signs of up up up, 2018 is already gearing up to be the great year of the crypto-coin! 

Bedroom investors everywhere are talking about the bubble that is Btc and while im with them that it is a bubble (ask why), the faith and the big investor buying power behind this project says Btc is going no where but up. The majority of moderately priced Alt's will explode on to the scene with the ever increasing Crypto crowd as a result.

The reasons for Bitcoins turn at the precise point at which it did?

Analysis of Jan 2014/15/16/17 all show the same decrease on Bitcoin up until around mid January when it finds its lows and continues its run (historically). The reason for this is speculated. Many believe its because of bankers bonuses being paid at this time, and the Chinese New year. I dont know about that, Id prefer to look at it fundamentally.

https://scontent-lht6-1.xx.fbcdn.net/v/t34.0-12/26914137_183162352435801_1883757570_n.jpg?oh=c2652d57b629060e275e57f6470286cb&oe=5A653B98

This year with the introduction of BTC futures, the banks were shorting large amounts of BTC futures to drive the price down during the weakest part of the year for BTC trading. With their short futures, and in an effort to drive down price -as previously mentioned in my market manipulation article- they also used another weapon in their arsenal to fulfill there $10,500 buy orders.

The Media! JP Morgan exec Mike Bell, simply claimed ''Governments could BAN crypto currencies.'' The world took his word as fact and BTC accelerated its downside, working precisely to his agenda of driving price into lows so him and his whales could grab bitcoin at its cheapest before what will be a MASSIVE 2018 run into new highs. 
https://scontent-lht6-1.xx.fbcdn.net/v/t34.0-12/26994615_183277052424331_934141315_n.jpg?oh=a1af3adeb5f6f3e13ae7dd5a59c59c58&oe=5A665436

While Mike Bell didnt suggest this would happen he simply hinted at it and that was enough to scare out many investors. 

The final Reason for mid January being the historical and current turning point for BTC is the expiration of BTC futures. When the futures expire the positions are liquidated, thus bringing the short sell positions out of the market.  This year, the expiration date of BTC futures was, funnily enough, January 18th. BTC began to show massive buy volume on January 17th as the shorts were closed out and a massive amount of buy positions were taken up around the $10,000 mark.

The analysis of Bitcoin below shows some great technical signs of everything mentioned above and the future of the coins price movement.

These signs are as follows:

Firstly, see the bottom of the chart. The volume indicator. The huge increase in volume shows a final push into lows. This is covered in an article I will be writing to explain how to use volume as a way to pinpoint reversals. This final push down on huge volume shows a massively increased effort by the big banks to drive price lower. 

If it takes that much volume to push price down the same amount as the previous 2 large moves combined (marked with red crosses) you can clearly see the support its driving against has increased a great deal. This is the first sign price will look to reverse. The volume spike, and the spike in relation to previous moves.

Secondly, we can see the Fibonacci retracement lines. 61% retrace of the previous trend is always an extremely strong level of support/resistance. In fact the majority of stocks use the 61% retrace in their trends and Ive traded very successfully using just Fibonacci. They're extremely reliable.

Third we can see the long term trend line has been touched and price reacted to this as you would expect. Quickly rejecting, showing a very BULLISH hammer bar.

You will also notice that BTC has been trading  in a descending range between 2 trend lines, creating what is known as a bull flag. For this bull flag to be confirmed, we want to see a break of the upper trend line. This will happen on large volume and the break will be a considerable move when it happens as the short sellers stop losses will be placed above the upper trendline. Once these short sell stop loss orders are triggered it will be full steam ahead!

https://scontent-lht6-1.xx.fbcdn.net/v/t35.0-12/27046535_185158962236140_1919911429_o.png?oh=183e74411e459f44d0dc0541abc9a3ad&oe=5A666915

Here's to a great year in Crypto trading :)

Dont hesitate to ask any questions about analysis and how you can learn to read charts and fundamentals yourself. 

Sam Broye