August 13th, September12th, October 11th, were all important recent date for the market, specially BTCUSD -0.29% .
So I just expect November 09th or 10th to be a very important date as well for the market, could be extended to the week of November 12, 2018
The reason is that the week of November 9th -1.44% 2017, BTCUSD -0.29% . was up 38.6%, which initially sparked the altcoin bullrun.
That 38.6% ($2242), is the biggest %gain BTC -0.29% has since that week.
It is the same week that is holding us as a major support right now because that week opened at 5810.00, Low 5780, High 8130, Close 8052.7.
If you Notice the BTCUSD -0.29% weekly chart, the week of 25 June 2018 had a Low of 5780 (current bottom), which coincide with the Low of the week of November 9th -1.44% .
In 2018, on the week of 25th of June , 13th of August and 17th of September, BTCUSD -0.29% had shown a very important character. It reversed the previous aggressive downtrend with a powerful hammer stick with an average gain of ~3.1% in each of those candle stick. Those 3 weekly candles are currently forming the Higher lows of the current bottom formation.
My final observation is that if BTC -0.29% does not break the strong support formed by the "week of 25th of June, 13th of August and 17th of September". the market can spark a bullish trend and challenge 11200, which is 0.382 fib level from all time high.
I have drawn a major trend line curve that needs to be broken also at 7770 on late November 2018.
If this curve is broken, we will most likely follow it to all time high.
Bear in mind that we are still in bear market and that this is just probability that could fail at 100%.
So I just expect November 09th or 10th to be a very important date as well for the market, could be extended to the week of November 12, 2018
The reason is that the week of November 9th -1.44% 2017, BTCUSD -0.29% . was up 38.6%, which initially sparked the altcoin bullrun.
That 38.6% ($2242), is the biggest %gain BTC -0.29% has since that week.
It is the same week that is holding us as a major support right now because that week opened at 5810.00, Low 5780, High 8130, Close 8052.7.
If you Notice the BTCUSD -0.29% weekly chart, the week of 25 June 2018 had a Low of 5780 (current bottom), which coincide with the Low of the week of November 9th -1.44% .
In 2018, on the week of 25th of June , 13th of August and 17th of September, BTCUSD -0.29% had shown a very important character. It reversed the previous aggressive downtrend with a powerful hammer stick with an average gain of ~3.1% in each of those candle stick. Those 3 weekly candles are currently forming the Higher lows of the current bottom formation.
My final observation is that if BTC -0.29% does not break the strong support formed by the "week of 25th of June, 13th of August and 17th of September". the market can spark a bullish trend and challenge 11200, which is 0.382 fib level from all time high.
I have drawn a major trend line curve that needs to be broken also at 7770 on late November 2018.
If this curve is broken, we will most likely follow it to all time high.
Bear in mind that we are still in bear market and that this is just probability that could fail at 100%.