Behind the 20 000 Door

Updated

At least we are now forming a discernible pattern. This analysis has been harder than normal as confluence is difficult to find beyond all time highs. If BTC manages to keep some semblance of its former self beyond 20 000, these are the levels to watch. Money Man cannot say with certainty what will happen, but the chart is saying that 20 000 itself is not where all the action will be. Time will tell, but as he has been staying well away from the price, he can look at these levels to take partial profits.

Conclusion: Nobody knows what will happen if we breach 20 000, and what buyers it would attract, but the latest pattern has not shown much selling on the lows so the bias is still upwards, but the planning is for if the downwards happen. Very important to me: Please leave a like if you appreciate the effort, please comment and develop this further and Please follow if you see this analysis thread going somewhere that you could be interested in.

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Previous BTC contribution

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The defense of this price level has been good. Lets see where this hour candle takes us

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It seems as though we have reached a local low now at Red Target 2. The other levels stay valid though. Lets hope for a pattern soon so that more meaningful analysis is possible.

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Another small update is that Red Target 1 now also include 17430

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Next BTC contribution

Rule72

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