Bitcoin fell initially during the trading session on Tuesday but found the $10,000 level to be supportive. However, even though we formed a hammer on the daily candle, there is still a significant lack of volume. It is because of this that I feel any rally at this point will probably fail to stick. Unless we make a fresh, new high, essentially breaking above the $13,000 level, I anticipate that the market will continue to bang around off the $10,000 handle, and then eventually break down below it. If we do, the market probably goes down to the $8000 level next. If we can break out to the upside, then I think we began to see a move towards the $15,000 level, but right now I am a bit unconvinced, because while the US dollar has been getting pummeled, the crypto currency markets have not been able to take advantage of that.
for more analysis: http://www.dailyforex.com
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