etfsandstuff

BTC Long Term Analysis

BNC:BLX   Bitcoin Liquid Index
Here is my long term analysis of BTC starting with the monthly chart. We have retraced all the way to resistance between 4000 (weekly candle highs) and 4300 (78.6% of the entire trend).
This 300 dollar range is neutral and should be considered as a zone for entry in the previous direction, in this case short. See my next post for weekly perspective. Pay attention to the bottom trend line which is 200% of the channel uptrend. We could see the bottom in this area.
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Weekly chart. I believe we are in the second "X" or a huge WXYXZ correction and ready to turn lower. This chart show projections of days from previous correction.
I ultimately believe we will bottom around the 2900 level.
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Daily Perspective: The area between 4080 and 4300 is a massive resistance zone. Anything in between is neutral.
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Short term i see us revisiting the lower channel line.
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Heading for 3860 shrt term
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