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 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 (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 .
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 as before :)
Let's wait and see, it it work as expected (support)
Let´s hope we rest there until next week :)
Next levels to watch:
200 week moving avg
(*) it could be a "fake-out", we will know next week