The week of Jan 06/20 BTC made a concentrated effort to break out of the descending channel since entering it on Jun 19/19. The trend reversal started on the week of Nov 19/19 and as of this week the MCAD looked like it was going to cross over positively for the 1st time since Feb 4/19 when it last crossed over starting the uptrend from 3,500 range. In order for BTC to keep it's long term trend positive it needs to close no less then 7,700 in order to maintain a higher high and not breach the long term support line (yellow dash line) since 3,500. If this is breached the weekly support is between the .786 - .886 FIB level approx 5,000 would be the next weekly support area. if BTC manages to stay in the 8,000 range there's very good chance the MACD crosses positive confirming a new uptrend.