If we believe in market cycles my current model is expecting an extensive period of consolidation/accumulation in front of us.
RANGE: $6.900 - $9.600
If price drops lower than the $5.600 level on the way to 2020 halving - #BTC is either under heaviest manipulation or more likely is gonna die.
Drawing the true trendlines is not as easy as many people believe.
You have to read the candlesticks and assemble the story in your mind to find the right spots to anchor your lines properly.
Let's see how this option is working out.
$BTC has been rejected violently from an old diagonal trendline in todays dump.
Market now has to decide wether
_ to push up hard on the monthly to wick through 9.3k level in order to turn the trendline into support and reaching the next floor for further upside.
Don`t be suprised by some massive greens tmorrow then.
_ to close...