The price broke the uptrend line and the support line of the triangle. It is a bearish signal, and if you are a buyer, be ready to see a new attempt to reach 6500.00 and 6000.00 support.
In spite of this solid bearish signal, the market still has a chance to develop an upward movement. For this, the price needs to stay above 7100.00 level. It is the previous important swing low. We can see the sideways movement for some time between 7100.00 support and the main downtrend line. If the price reaches 7100.00 and bounces, it will give us a new buy opportunity.
The breakout from the descending price channel will be able to give us a trend reversal signal and the beginning of a new uptrend.
I like to become a member, will the alerts be included in the $14.95 monthly fee, I live in Canada and have to pay 30% more, please tell me than I become a member, thank you Susy
kaiserofschmarrn
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What about that weekly MACD though
Rustlydodo
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Thanks
frankvf3
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Excellent analysis. You've indicated which way you believe the market will move, and why. Too many analysts say things like "the market may move up or it may move down". These kinds of statements are useless. We all know that already. Kudos to you for giving a prediction and reasons why.
Nice work. I agree with you. There are mixed signals, But more likely, price will fall.
There Is a low posibility to push to 7450/500.
1D RSI overload...If price will not go over 7360, we can expect drop to lower support, 6500, or even lower... 6K would be fine by me :)
I'm still following biger picture idea
cryptospawn
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@Gokic, for about 3 months now I have been waiting for BTC to dip to the very dead center of your red rectangle zone. I'm thinking this should be complete by mid Jan 2020. So I wait patiently...
Gokic
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@cryptospawn, patient is very important or should i say a key of success :) Time will tell :)