$BTC Monthly Candle Close and what to watch for going forward
Friends I hope you are all having a WONDERFUL week! I wanted to give a quick update on our Monthly close. The Candle was Bearish, and November ended up being a red month. However, the candle itself was quite similar to prior months candles that closed red. And each one of those monthly candles were proceeded by big up months. I believe this will be the case for December.
The Key takeaway:
The Significance of the prior down months were that the following candle did NOT have much price action below the candle body of the prior month. What does this mean? It means we would not like to see price action stay under the black line. If this were to happen, it would be quite bearish. The Main support $BTC needs to stay over is $53.3K, if that is taken out it lends a lot of credence to $69K being the top. However, I still contend we have one more ATH to go.
That is all for now! :)
PS-Still awaiting a BIG move in $Alts. :)
The Key takeaway:
The Significance of the prior down months were that the following candle did NOT have much price action below the candle body of the prior month. What does this mean? It means we would not like to see price action stay under the black line. If this were to happen, it would be quite bearish. The Main support $BTC needs to stay over is $53.3K, if that is taken out it lends a lot of credence to $69K being the top. However, I still contend we have one more ATH to go.
That is all for now! :)
PS-Still awaiting a BIG move in $Alts. :)
JT