First wanna note that I prefer dynamic analysis and updating projections rather than positions suggestions. As Bertrand Russell (British philosopher) says, nothing is more important than "facts" and in reality facts are evolving. One day you see the trade war is intensifying and the other day they say nice things and some cease fire. Seems positive sentiments...
In last short-term analysis I used Elliott Wave:
This chart maybe more exact I think, that suggest a short-term correction to 1450$.
Keep in mind that long-term outlook is still Positive and if this analysis remain valid, next upward wave could last to...
Guess touch the red zone and then yellow to continue building long-term positive trend; the second time in its history.
Green zone is considered because the three Gann fans cross each other there.
Lets see what happens...
Last very short-term analysis:
The price moved back and forth in this rest period. Now 1528$ (R1) may become new support to start 5th wave (green scenario) or may not and S1 act as support (orange scenario).
Note that It is a very risky situation. Price has reached medium term high and close...
Bitcoin is a valuable property. In future we need this kind of exchange mediums. So long-term trend still positive but its price is closely related to business cycles. This is for it being as an exchange medium. In trade war situation, more secure commodities like gold are more interesting and exchange medium ones are not.
Technically, below 9575$ and 8850$ strong...
If the volume decrease, a new neutral channel between 1480$ - 1535% (average volatility ~= 3.6%) will be expected.
If market face more demands, that leads to a steady or increasing volumes, Gold will reaches its long-term price goals sooner.
It's gonna be the third trend shift in last three months. Price has a 10% - 15% gap with its medium to long-term trend low.
Real economic situation is tough, Trade war has been exacerbated and expectations will be more and more toward more economics risk. So the long-term trend low is gonna increase and any decrease in price would be for very short-term.