The price of Bitcoin is currently stuck in a range and attempting to find support on the 89 EMA (which was the main support when BTC was in the 6K region before the drop to 3k) and the 100 SMA.
As long as we are stuck in the current range ($6800 - $7500), the bias will remain neutral. If we break out and close above the $7500 region then we could see a price increase until the ~$9620 horizontal resistance. On the other hand, if we break down, then we could see the price drop till the 200 EMA support at $~5550 region (which was the resistance in the 4k region) and eventually another drop to the 200 SMA at the $5000 region.
Until will touch 200 weekly MA. Based on my research, when BTC touch at bottom side 200 weekly MA, price go up: explode !
Let's hope that meanwhile BTC will go down around 5000-5500$. If will move down to 200 weekly MA, my opinion is that BTC will reach another higher low, maybe more low than previous low (3200 $). Also, from my point of view in this period is better to accumulate capital ($), and invest in moment of higher low.
Meanwhile, A Happy New Year to 2020 !
astromaniak
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BTC is not Bitcoin. Now only down. BSV in New will replace BTC.
CryptoZide
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Clear scenarios ahead, thank you for keeping a clean and simple vision of possible outcomes for BTC