Christmas Eve Carnage for Bitcoin

Bitcoin is close to the top but not there yet. Strong momentum recovery on the 4H chart indicates the market still has more upside potential despite its recent 9.1% drop. We remain optimistic for the Bitcoin market to shake off fears and set a new all-time high within this week at the lower $25,000 price range before bulls retiring for the holidays. Don't buy into the "altcoin season" hype too early. Take note that when Bitcoin sinks, altcoins are likely to capitulate big time.