No, BTC is not done yet. One last push to 10k coming!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
And again, everyone starts drawing the arrows down, lol. Everytime BTC makes a pause, the traders come out and draw the arrows pointing down, to at least 6k now from 8.5k.

The dump at 8.5k wasn't strong enough. The reaction was weak, as if the resistance wasn't even that important.
The same happened at the mighty 7.5k resistance area , which tunred out not to be so mighty after all.

And 6.5k? As if it wasn't even a resistance, lol !

So, BTC is preparing one last push imho, this would also fight the weekly picture.

To 10k, then dump to 5-6k, and oscillating around 6k until it stabilizes at 6k and prepares for the next bullrun in early 2020, but this time, targeting the old ATH . Which of course it will break
at some point in 2020, making hew highs.

Comment: Highly interesting dump, with strong back reaction at previous 6k resistance. Now 6k is very solid support, so we saw an extremely strong bounce off that level.

Back at 7200 as of writing. This leads the 1d and 3d to rapidly cool off. I still think that BTC wants to do a final push to 10k, this level as top is also not too bad, but the strong bounce here shows that BTC is still in bull mode.

We might see something like this:

Comment: Of course it doesn't stop, I had this feeling.

It wants to push to 10k with the new weekly candle:

Weekly doesn't look like a reversal candle. The next weekly will be the crazy one I think. Will go up to 10k, even 12k possible, then dump to 5-6k. That will be some really good old bitcoin rollercoaster action :)
Comment: Today is ETF decision or postponement day, which will certainly have influence on the price. If the ETF is rejected, we'll probably see dumps, if approved of course a huge pump to 10k, and maybe even beyond.

If postponed I am uncertain, then we might push for 10k, but in this case we probably won't be able to push through 10k and the dumps will commence to 5-6k.
Comment: Ok, apparently the ETF decision has been delayed again. No reaction of the market whatsoever. We are still very overbought on the weekly, so it's difficult to say what will happen.

We could still push for 10k, but I can already see it starting to dump here, too. We'll find out soon.
Comment: Chances for push to 10k are dropping imho. We might see 6k first and then a resume of the rally after a period at 6-7k.
yeah, at this point we might as well just flip a coin
They delayed ETF yesterday. Check the news.
+1 Reply
@noideaihave, Thanks for the update!
That wasn't even a dump it was a flash crash.
It reminds me of the monero chart

+1 Reply
Thank you Flavious! Really appreciate your work. 3 days ago I came up with the same levels but my trading route is slightly different. We do end up at the same peak however!

+2 Reply
@TradingShot, Thanks, your analysis looks also legit. Nice work as always. Fate will decide which route bitcoin will take. But good that we end at the same end result :)
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