The DXY can tank really deep at any point now, the EU tried to help out but Poland and Hungary are blocking another stimulus pack in the EU, so the Dollar would need a miracle to not go into a deadly downtrend from here. We made a bunch of lower lows as I predicted, this will surely not stop here. 85 should be the next target, we can see what we are going to do...
This is a full retest of 18k and we touched the MA 25 line, the chances on a strong bounce out of this level are huge.
A bullish div on the 4h is always great news, we just came from sub 30 and past the 30 rsi level. I do stand by the idea that we move to 19200, 18800 and than one giant uptrend to 22k
The trend is clearly bullish, we have never stayed so long in an price area this high in the whole history of Bitcoin. So far in this bull run BTC broke out bullish out of every large triangle formation. ( in the bear trend it was the exact opposite ) So I am inclined to think that BTC will first go to 19200, afterwards 18800 and after that straight to 20k+
If EOS passes the 4 dollar mark we can go to retest 10 dollars and after that 20 dollars, a parabolic run can start at any point now. BTC cant stay dominant, simply because the altcoins have more to offer. If you observe the market cycle the dominance is still in a downtrend overall and that will soon continue in favour of the alts.
Bitcoin is still in a perfect bullflag and the DXY is close to collapsing to 85 or lower. The chances are still huge that we will break 20k! Probably even in this attempt. Do not over leverage it can always still go wrong, but the bears would need a miracle to pass 18k.
Bitcoin tested the 18500 support and the support seems to be very solid. We are still in the bull flag formation, if we break 19350 we will go to 22k, if we dont we can test 18k or 17200 in the worst case, because we are in a descending triangle in that case.
There is a massive 5k sell well on binance protecting the bears, its however no science to look at sellwalls, they can be pulled at any moment. Usually where the massive wall is placed is exactly the direction where the price is going. The whales know the price will shoot up when the wall is pulled, but apparently they need to accumulate more before they let BTC escape.
I guess this would be the worst case scenario, that we fall into a long sideways move like we had around 9k USD in this bullrun. I think its far more likely we will have a bullflag breakout scenario like I made in my last TA.
No matter what the bears will always find an excuse to short, even if were in an uptrend and all technicals scream up! :D In the past the bears were lucky a lot, I guess they are hoping on the same luck 4 years in a row. This will correct to 18500 at most. And probably not sub 18800 at all.
So far this looks most like a giant bullflag, were parking right under the very last resistance that protect the low lev bears from total chaos. It certainly looks like BTC will end up 20k+ soon.
On Binance there is a last attempt by the bears to protect the ATH level of 20k, once that breaks the low lev bears will be rekt also and we will shoot up to 22k.
BTC is still very bullish and keeps bouncing away from sub 19k prices. I expect some pumping to occur in this weekend.
This is actually very special, in the past BTC just briefly went to 20k and got insta dumped within days, this time BTC seems to be able to handle this price range easily, we can still hit 30k or 40k at the end of the year or halfway into januari.
If we don't break 19400 we are in a small downward triangle, this is not really a problem and is actually very common for btc. Usually BTC gives the impression that it will go down and will go up when it's near the end of the triangle.
Bitcoin is still very strong, I expect BTC to struggle a bit between 18700 and 19700 and will breakout after that.
The dollar is doing bad and it's going to get worse. People are waking up the dollar is stretched to much. The american state debt is 3 times the total market cap of gold, come on people really, this stuff is worthless. Trump about the DXY freefall: www.youtube.com
EOS made a higher low and is trading at ridiculously low prices, probably due to all the hype of ETH 2.0. ETH 2.0 was a huge flop and Vitalik is promising to raise the tps somewhere next year instead of 3 days ago as promised many times by Vitalik. ETH 2.0 is going to be a new PoS coin where they will throw the PoW network into the bin at some point. The Hard...