We are ending the month and the weekly shochastic is crossing down. We already had 2 touches on the top that ascending triangle so the next touch should be a rejection to re-test the bottom triangle support. We are currently ended the bear market in my opinion and we are in a transition phase. You can call it accumulation.
A few days back i've posted a possible mid-term bearish scenario that left many traders doubtful and i understand their point. This time with more in debt analysis i present you my more bullish scenario for the future of blockchain technology. This is only part 1. Enjoy ;)
Yep there we go! This is what i think of Bitcoin's price action for the next 2 years to come. In December 2018 we came to form the wave A of that ABC correction. In December of 2019 we should complete the B wave up and finish the C wave down wih a capitulation on June 2020. Enjoy!!
I previously thought it was an 5 waves structure but now it looks more of an ABC. Two main downward resistance trendlines extending from the 19k region (Red and purple) should stop the progression upward at least for the next week. In the meantime some important EMA's golden crosses should occur and that could potentially mean more upward pressure as Bitcoin will...