Last week candle closed with a bullish reversal on the weekly timeframe. Bulls are started getting momentum now, but they should face resistance at 7800-7900$ area soon.
I think 7800-7900$ should remain resistance for some more time - similar to 4000-4200$ Resistance back in Dec 2018.
Bitcoin bottom might be in:
Only if the price manages to a higher high and higher low: we need to bitcoin to make high above 7900$ and low around 6500$ to confirm the bottom formation and start of next bull trend.
Overall, I think: January will be deciding month for bitcoin further price action: It will be also the best time to open Swing LONG position upon confirmation of bitcoin bottom.
I think 7800-7900$ should remain resistance for some more time - similar to 4000-4200$ Resistance back in Dec 2018.
Bitcoin bottom might be in:
Only if the price manages to a higher high and higher low: we need to bitcoin to make high above 7900$ and low around 6500$ to confirm the bottom formation and start of next bull trend.
Overall, I think: January will be deciding month for bitcoin further price action: It will be also the best time to open Swing LONG position upon confirmation of bitcoin bottom.