Sep '17 was the last monthly candle down before BTC went parabolic. Therefore those levels are highly significant for the current monthly close.
Previous monthly (Nov '18) closed well below the body of Sep '17 and even below the low of Oct '17, which was the first candle of the large move up. So that showed a lot of weakness.
Current monthly candle however is grinding back above that Oct '17 low and forming a strong hammer that took the low.
I'd like to see December close above 4133 at least.
Below 4040 and 3657 (Nov low) would be a strong bearish sign and increases the probability that we will reach 'Zone B' in the chart.
Previous monthly (Nov '18) closed well below the body of Sep '17 and even below the low of Oct '17, which was the first candle of the large move up. So that showed a lot of weakness.
Current monthly candle however is grinding back above that Oct '17 low and forming a strong hammer that took the low.
I'd like to see December close above 4133 at least.
Below 4040 and 3657 (Nov low) would be a strong bearish sign and increases the probability that we will reach 'Zone B' in the chart.