We can say that BTCUSD (Bitstamp) in january, 29th 2018 is in a upward terciary wave, aligned with the primary wave traced from the bottom US$890 and in a downward secondary wave from the top US$19666. This is the time for the secondary wave to reverse. If this doesn't happen in february then its more likely that this secondary wave is in fact a primary wave that will make the coin adjust its value by 80 to 90% all along 2018 as soon as it breaks the US$9222 barrier. My guess is that the price will reach US$2666 by december and then will revert to a primary upward wave.
nice comment @rgerk. The only explanation in my mind for the price inertia right now is that we are undergoing price discovery -- people are trying to see what kind of a market they can get. I am interested/amazed by the relative sluggishness in the market since friday. I would have figured we had a crash over the weekend. The trigger-happy small buyers are likely out of the scene now, and the real bottom feeding pros are waiting for their moment
DrStein
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@mortonpeak, You are right. I also wonder who the F is still buying BTC. If we had retraced back to 8K then we would be in a bull run right now. Really strange calm before the big storm IMO.