The way of the Bitcoin

I am not trying to be pessimist and i will not. Check the graph! The middle line of the Trend is a strong resistance and strong support. Bitcoin seems respecting this trend. Not only the trend itself! Check the parallel lines as well.

Bitcoin tried this support yesterday and bounced. Looks like it is going to try one more time. If Bitcoin can not cross down the support, this may indicate a rise and the targets are 8400 - 9.600 - 10.400! However, if it crosses down the median and closes day below, there is a different scenario and we can go back to $6K - $6.5K

I will update this post at the beginning of the week with the statistical probabilities of the following week. Keep in touch!

Btw, you can use my statistical method's indicators to see the probabilities of any asset classes:

The Curve

The Path

Bests,
Atilla

Comment:

The support line broken and we are now at ~$6500 level. $6480 is a support line but if broken, the next target is $5800.

But; if it goes back to trend until tomorrow (over 6720 today, 6760 tomorrow) we can still expect a reversal!

Comment:

Bitcoin closes the day over the support line. This is a good signal but; the momentum is weak. I am not expecting an uptrend yet. Looks like BTC will try to cross under $6480 (today's level) again. I could say GREAT if BTC would have closed the day over $6750.

Let's hope BTC closes the day over $6780 (today's resistance and probability is 38%) and never cross under $6480 (probability 85%).