BTC Price Analysis: Back to $4200
What does the Chart Say?
On the lower time frames, BTC looks incredibly positive with an aim back up over $4000. This is owed to historical price action from the 30th of November, that appears that Bitcoin will make in a single move up to $4162 before stabilising there during the course of the day.
on the lower time frames have crossed-over from there OVERSOLD positions - indicating that with enough momentum - we may see this momentum at the New or Frankfurt open to see a move over $4163.
Following a fall to $3883, accumulation has picked up and not stopped - indicating that the bulk of the market has viewed this move as a local bottom for the day and UNLIKELY to revisit during the rest of the day.
Gaps that need to be filled at $4039.
There are several gaps that are needing to be filled at $385X.
The higher time frames illustrate based on and that a dump has not yet been finished, and therefore we could see $385X being retested.
Nouvive Says: We will most likely see a retest of $3863, before trailing along to the late $398X's before pumping to over $4162 in one move.
Prudent Investors looking at the lower time frames should get into Long positions with a stop loss well below $3839 with a take profit at $4163. Those who are trading the alt coin market should in preparation for this move trade USDT or equivalent pairs.