Based on previous thoughts on the alleged Wyckoff distribution pattern seen during spring bull run, I copied the bars from that time to check for correlation. No arithmetic valuation for this as of yet, might do in the next days. Measuring what seems to be the pattern's entry point, I expect a market top of 78500 EUR (90000 $ today), after Wyckoff characteristic...
This is big bearish think, personally Im waiting for more signals and price action to update prediction.
The most important thing is where BTC will make next spike.
In this case retracement from B to C will break MA 200 D and 221 D down, next retracement from C to D will confirm D as a resistance (S/R reversal is in game).
Publishing my first idea here, chose a bulish price analisys prediction on BTC for th next 6 months
Let me know what the experts think. Be kind please, I have been trying to evolve my analytical skills over the last few months with mixed results, but remember its my first time publishing.I appreciate all the contructive criticism and maybe some not so...
Now We can see 2 trend resistance lines which BTC must break up and retest for retracement to ATH and beyond (4H chart).
Bearish movement is in chart too.
Remember, BTC can do everything like other markets, which are tradable.
Stay focus to swings/where BTC will make next high/low.
Since November we are in a downward channel correcting further the over 2 1/2 months old upward trend. As the upward attempt of 19/20th November has failed we may understand this as a sentiment against the Coin for the moment.
7 year trendline and bitcoin has tested the trendline and is still above !!!!
If bitcoin don't break the trendline very bullish for bitcoin.
Then bitcoin BTC-EUR shall go to 80000 euro.
Don't forget to push the like button. Thank you.