Bitcoin could to ending this ABC correction pattern, but we could to forming an accumulation zone from this zone. But in case that we break-out the resistance of $30k. This could be confirmed with pull back, and if pass this test, then, Bitcoin will return to the bull rally.
This it's the positive side only that using some key factor that affect the #Bitcoin price.
1) Inflation rate (Gross Domestic product)
2) Interest rate
3) U.S. Dollar news by Federal Reserve (correlated)
4) Macroeconomic news
***It's very important to read what happen in Forex market (correlated with U.S. Dollar) to know the perspective by medium to long term, and using this fundamental analysis, we could to project the decision on how the global market will work.
Anyway, I will make an analysis in the negative side to know if Bitcoin will forming any bearish correction from this point like 2018 when we forming the descending triangle around 6k and drop 50% to $3k on the 4th quarter of 2018.
I hope that this idea support you
This it's the positive side only that using some key factor that affect the #Bitcoin price.
1) Inflation rate (Gross Domestic product)
2) Interest rate
3) U.S. Dollar news by Federal Reserve (correlated)
4) Macroeconomic news
***It's very important to read what happen in Forex market (correlated with U.S. Dollar) to know the perspective by medium to long term, and using this fundamental analysis, we could to project the decision on how the global market will work.
Anyway, I will make an analysis in the negative side to know if Bitcoin will forming any bearish correction from this point like 2018 when we forming the descending triangle around 6k and drop 50% to $3k on the 4th quarter of 2018.
I hope that this idea support you
