#OPINIONLEADER# BITCOIN has fallen under the trendline support that was supporting the price and has now entered the zone of support that sits under the 50% Fibonacci and the last line of support at 29,800. We have entered a critical time for the crypto's immediate future. Last January saw this area of support mark a reversal in BITCOIN's fortunes and used as a springboard to make new highs. The question is - can this happen again? The signs do not look good. The RSI is not over sold so we can expect more selling pressure and the Stochastic is still heading south. We can expect BTC to move sideways from these levels for a few days but the key indicator to watch is the 200 EMA. This is currently declining from a high of 39598 to todays reading of 39137. As the EMA moves south it will take the price with it and BTC MUST regain this level and start trading above the 200. The picture on the H4 time frame is more encouraging with 2 consecutive doji indecision candles forming in the last 8 hours and a 3rd currently forming. This added to a stochastic crossover and price moving up on RSI from oversold. Its too early to say that BTC has found support but the BEARS would appear to be backing off for the time being. BITCOIN is (as ever) heavily subject to market comment so anything is possible at any time and this is why predicting where price is headed is so problematical.