Update: What we can expect in the next weeks

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello traders,
hello hodlers,

i know many of you are scared at this moment and it could play out bad, but there is also a change that we saw the local bottom and getting bullish again.

What you could find in the chart:
- red line: Monthly resistance ( 14k )
- blue dotted lines: Monthly channel (big timeframe for next months)
- black line: Weekly channel (relevant for the next weeks)
- green lines: Next big support levels (if you zoom out, you will find 2 more - all based on monthly price action)
- yellow: 21 weekly ema (broken in september - bad news for bull cycle)

What i expect in the next weeks:
A retest of the week channel is very likely, but i think we will fail one more time.
This scenario is drawn in the chart (dotted black & orange targets).

What i expect in the next months:
If we hold support at 6,400 USD we could see a bulltrend continuation and 2020 could get very exiting!
If we break the 6,400 level (weekly candle) it will bring us more downfall.
Next targets are drawn in green.

I don´t want to bring scare, but we have to accept that the "regular" bull trend is not active since we broke 21 week ema .

I personally didn't sell any of my bitcoin hodl coins and i won´t even if we see my last support target of around 1,200 USD.

Greetings and good luck to all.
Longterm iám bullish as before :)
Comment: NOTE: Don´t understand why 6,992 level is marked. It should show the line at 6,400. Maybe an error while drag&drop the line.
Comment: Blue line touched!
Let's wait and see, it it work as expected (support)
Comment: Bitcoin is again over 21 weekly ema!
Let´s hope we rest there until next week :)
Comment: Broke of multi-year support line (*)

Next levels to watch:
6,400 USD
200 week moving avg

(*) it could be a "fake-out", we will know next week


Good stuff , thanks for sharing,
+1 Reply
@mycotoxin, you are welcome.
Good work. thanks for sharing. I do mostly agree with you but Im slightly more bullish. Here is my view
@Anoinvest, thanks, i liked it already :)
Crypto-Coin-Trader UnknownUnicorn2760874
Great analysis,Are you available on Instagram?I want to follow you?
@NqumaV, thanks but you can find me only here. Even better for chart analysis as instagram ;-)
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