Clearly defined Monthly ranges on the Bitcoin Chart.
A Superb recovery fo the price of Bitcoin but approaching major supply zone. Could see a climatic Fomo halving attempt across 10k which may prove too much for the bulls to close on the monthly and more time in the range 9.2 - 6.5 could be needed. It might be frustrating for the bulls but would provide a solid base with potential for a higher low and a right shoulder / Wyckoff pattern on higher timeframes which would Position the market superb for a bull market end 2020 and into 2021.
Will add to this in due course but consider this a broad end of year forecast.
Worth checking the linked chart here too in the context
we could see up a right shoulder and really gain some momentum into the end of the year.
Drop it alike and all follow all the other stuff in the footer if useful, cheers.
Filb
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Starting to show some initial signs of rejection which we have seen before.
I don't know, bro'. I just don't see us breaking below 8k again...7700 the lowest, but I really think we are done with that area. I think we see a new range low in the 8200-400 range take shape. Still need to figure that new miners bottom out though. Thanks for sharing your work with the community.
@Tbjbu2, 3.2 was miners bottom before halving which got hit - that has now doubled so 6500 ish is the new miners bottom check miner rev chart on trading view
filbfilb
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@WhaleBearPig, Yeah its a bit controversial but a post halving selloff after a 100% + gain off the bottom kinda makes sense - some others think a further capitulation should happen post halving. Happened last time due to Finex hack and you might argue we just had a premature one..but given the current climate I bit more ranging and then a 14k attempt by EoY would suit me :)
Tbjbu2
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@filbfilb, Bro those that bought in those levels won't be selling anytime soon...
filbfilb
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@Tbjbu2, there are bigger and more sophisticated investors than your average player don’t underestimate it.
happytradesmore
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@WhaleBearPig, I have a bullish bias above the 21wma. But if it breaks, look out below