jacques_michaud

Weekly Trend Reversal BTC

Long
BITSTAMP:BTCUSD   Bitcoin
On the logarithmic weekly chart for BTC in in the process of confirming a bullish reversal trend, if it can close the weekly candle above the purple line ,which is the support line dating back to 2014, BTC is just entering a new bull phase. This has also been confirmed by breaking the green resistance line established from the 20K top since 2017, if we can stay above this line for the next few days into the halving both these trends will be confirmed. The weekly TD Sequential is currently at a 5 which means there's at least 4 more weeks before a 9 is printed which indicates a strong likelihood of consolidation to begin. BTC has a strong chance of reaching 12K before consolidating back to 9.2K range.
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