This could be a broad view of all the possible trends ahead. Chart is weekly (medium and long terms) and I consider an assumptions in this analysis; Trade war is going on and there isn't any positive outlook for other phases of deals (or Even negative ones).
I see a sudden drop or a drop after some neutral moves more possible. But we can't control all the variables in a static chart. If any thing happen that affects BTC demand in a positive way, it may follow green direction.
I'm not sure about the times and focusing on price targets. The projected moves could happen faster or slower or even they can not happen (:D)
I used "Marivana", the exclusive indicator I use as an trade algorithm here and the S/R zones come from this and also the help of Fibonacci ratios. Price moved below it's "co4" level that indicates early but serious tendencies to bear moves. I always try to project alternatives projections for different signals that we may face in future, for instance a break of the co4 level from below that may signals us a period of neutral moves or braking next resistant that suggest a try of 10K level again.
So for Bulls to be the winner I am waiting for above 8.2K - 8.5K. By bulls I mean the next BTC huge upward move that we all waiting for it! the Resistant would be 6.5K - 6.2K. Below these prices I waiting for 4.5K and 3.5K as possible targets.
For red direction entering the red zone could be an early confirm. If price escape this zone (bright dash curve) then I would focus on neutral projection. This week it made a rejection wing on the edge of it and we are watching next move there.
I see a sudden drop or a drop after some neutral moves more possible. But we can't control all the variables in a static chart. If any thing happen that affects BTC demand in a positive way, it may follow green direction.
I'm not sure about the times and focusing on price targets. The projected moves could happen faster or slower or even they can not happen (:D)
I used "Marivana", the exclusive indicator I use as an trade algorithm here and the S/R zones come from this and also the help of Fibonacci ratios. Price moved below it's "co4" level that indicates early but serious tendencies to bear moves. I always try to project alternatives projections for different signals that we may face in future, for instance a break of the co4 level from below that may signals us a period of neutral moves or braking next resistant that suggest a try of 10K level again.
So for Bulls to be the winner I am waiting for above 8.2K - 8.5K. By bulls I mean the next BTC huge upward move that we all waiting for it! the Resistant would be 6.5K - 6.2K. Below these prices I waiting for 4.5K and 3.5K as possible targets.
For red direction entering the red zone could be an early confirm. If price escape this zone (bright dash curve) then I would focus on neutral projection. This week it made a rejection wing on the edge of it and we are watching next move there.
Key targets for bears are 6.5K, 5.5K and 3.3K. In favor of bulls we see 7.8K, 9.8K and 13.8K.