BTC TO TAKE INVESTORS ON AN EMOTIONAL ROLLERCOASTER - 23/11/18
As highlighted by the above chart, BTC has first real resistance facing it at 4440$ on Finex. I see this resistance holding up on Both main exchanges (finex & MEX). Thereafter, I expect a decline to 4200$ for finex and 4000$ for MEX. To support this, MA is also acting at resistance throughout all previous price floor at 4600$.
We can see that there is also a bearish divergence occurring on our two momentum indicators. None the less, one anomaly to consider is a spike to 4600$, which was the previous price floor or demand zone.
After the 4k support is reached on MEX, then the bulls may have a chance of bringing price up again. All in all, I can see the bears taking a break during the month of December and the bulls being more proactive before the next big drop to our NEXT MAIN SUPPORT of 3,333$.
IF, we break through 4k support on FINEX, then we can consider a flash crash to our support of 3,333$.
AFTER, BTC finds support at 4k, we can presume a rise to previous ceiling of 4900-5100$. This will only come after a bloody battle between the bulls and the bears at 4500-720$.
On a conservative basis, especially after looking at the DAILY charts, I can confidently say that we will probably achieve at least 4700$ on a CONSERVATIVE BASIS.
STAY SAFE GUYS AND PLEASE PLAN YOUR TRADES AROUND THE INFORMATION I HAVE GIVEN FOR FREE.
We can see that there is also a bearish divergence occurring on our two momentum indicators. None the less, one anomaly to consider is a spike to 4600$, which was the previous price floor or demand zone.
After the 4k support is reached on MEX, then the bulls may have a chance of bringing price up again. All in all, I can see the bears taking a break during the month of December and the bulls being more proactive before the next big drop to our NEXT MAIN SUPPORT of 3,333$.
IF, we break through 4k support on FINEX, then we can consider a flash crash to our support of 3,333$.
AFTER, BTC finds support at 4k, we can presume a rise to previous ceiling of 4900-5100$. This will only come after a bloody battle between the bulls and the bears at 4500-720$.
On a conservative basis, especially after looking at the DAILY charts, I can confidently say that we will probably achieve at least 4700$ on a CONSERVATIVE BASIS.
STAY SAFE GUYS AND PLEASE PLAN YOUR TRADES AROUND THE INFORMATION I HAVE GIVEN FOR FREE.
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