BTC weekly has now closed under the 20ma after holding above it since late 2015.
It had broken the 20 moving average on some considerable volume after a weak bounce volume and price action wise off of it.
There is still a large momentum swing down on all indicators.
There is some prior consolidation on the three bars around 7600-6000 but I believe next step it will test the 50ma on the weekly with bounces here and there.
Stronger shorter term resistances I see are around 8450 and 9200.
I need to format the writing better but I am still getting around publishing ideas, I am used to taking screenshots and saving them with mental notes (hence my over use of arrows)
It had broken the 20 moving average on some considerable volume after a weak bounce volume and price action wise off of it.
There is still a large momentum swing down on all indicators.
There is some prior consolidation on the three bars around 7600-6000 but I believe next step it will test the 50ma on the weekly with bounces here and there.
Stronger shorter term resistances I see are around 8450 and 9200.
I need to format the writing better but I am still getting around publishing ideas, I am used to taking screenshots and saving them with mental notes (hence my over use of arrows)
Comment:
This is pretty unrealistic and wild target but I reckon around $3000-$2400 come this December time is possible with this movement