Looking more into the log graph:
I feel as if every sign is pointing towards a support test of $2600 range, which was found by looking at the previous crash from $1150 to $150. A bear flag has consolidated BTC to meet with a cross at MA 12 & MA 26. This is scary waters for a market that has been controlled by bears and will lead to a drop to the $2600 range. If BTC can't pull together we could easily see the next BTC support be $1100 which is likely. However, if the bulls can come together and push a long rally to MA 200 we could see $2600 remain as the strong support.
Overall, $2600 will be likely tested and will decide a steep crash (likely short-lived) or a rally which will last much longer.
Regardless, the future is exciting.
- The bright lamp
Personal opinions are only ideas and are never financial advice.
I feel as if every sign is pointing towards a support test of $2600 range, which was found by looking at the previous crash from $1150 to $150. A bear flag has consolidated BTC to meet with a cross at MA 12 & MA 26. This is scary waters for a market that has been controlled by bears and will lead to a drop to the $2600 range. If BTC can't pull together we could easily see the next BTC support be $1100 which is likely. However, if the bulls can come together and push a long rally to MA 200 we could see $2600 remain as the strong support.
Overall, $2600 will be likely tested and will decide a steep crash (likely short-lived) or a rally which will last much longer.
Regardless, the future is exciting.
- The bright lamp
Personal opinions are only ideas and are never financial advice.
Note
Also, it is important to note timeframe of the rectangle. Careful to watch mid-December outcome if everything is normal check Dec-Jan.Note
Looks as if BTC is toeing the line earlier than expected. Watch closely to see what plays out. A fall off from $3600 will open our next range $2600-$3600.
Note
Bigger sale off developing
Note
Sell**Where's my coffee?
Note
BTC still following earlier pictureNote
Still developing as expected.
$2600 range will be important to watch next. If the market doesn't turn around here we will very likely see BTC near $2000 range.
Note
So many buy orders at $3000 will probably spike BTC maybe up to $3400 but will ultimately fall to $2600 test after.
Many buy orders may quickly cancel causing a smaller push though.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.