Hi all,
I hope everyone is having a good day.
This week is the week where we are going to see if BTC can hold above this 99day Moving average.
It looks like to me that it won't and the trends indicate that it will fall to the neckline of this emerging Head & Shoulders pattern. If this happens we can expect to drop to the Major Support range between $19,800 & $22,000.
If we break this 99 day and don't fall to the neckline, then it is expected that it will at least fall to the minor support area.
If we manage to hold this 99 day support we've been bouncing off for the last year, then we are gonna see a bounce to the upside with new higher highs and higher lows being formed.
I hope everyone is having a good day.
This week is the week where we are going to see if BTC can hold above this 99day Moving average.
It looks like to me that it won't and the trends indicate that it will fall to the neckline of this emerging Head & Shoulders pattern. If this happens we can expect to drop to the Major Support range between $19,800 & $22,000.
If we break this 99 day and don't fall to the neckline, then it is expected that it will at least fall to the minor support area.
If we manage to hold this 99 day support we've been bouncing off for the last year, then we are gonna see a bounce to the upside with new higher highs and higher lows being formed.
Comment:
Looking at BTC on the Logarithmic chart on Auto, over a 1m, 3m, 6m timeframes, you can actually see that BTC in the past has trended exactly the same as this. The bar for this month suggests a trend reversal. So for now we will see a slight downturn for BTC down to 25,800 max, then by October next year BTC will be worth over $100k. This is as long as the macroeconomics don't interfere.