3k=Mean Price? FA/ Analysis backed by Monthly and Weekly Charts.
Updated
BTC Monthly Chart-
1.84% decline from ath by Dec 2018. In 2015, BTC declined ~86 % from ATH
2. The bottom Trend Line based on the limited data we have is acting as support
3. RSI drop to 2015 bottom's value in Dec 2018 and bounced.
4. Dec 2018 and Jan 2019 candles indicate reversal- ( Pin bar & Inverted hammer combo )-
BTC Weekly Chart -
1. in BTC's run from 2015 bottom to ATH in 2017, almost every red weekly candle was followed by a green weekly candle that closed above the red candle's highest price. (Marked by Green Flags)
2. The candle that followed the ATH candle closed below the lowest price of the ATH candle ( Marked by Red Flag )
3. The candle that followed December low closed higher. First weekly candle of Feb closed higher than its previous red candle.
Not terming them as "Engulfing" candles because technically, they aren't.
FA- BTC got to near 3K without any catalyst or any particular event. Whatever price action happened later always had one or the other catalyst that fueled the pump. I request you to Google each event and see for yourself whether or not all or any of them influenced price action.
1.84% decline from ath by Dec 2018. In 2015, BTC declined ~86 % from ATH
2. The bottom Trend Line based on the limited data we have is acting as support
3. RSI drop to 2015 bottom's value in Dec 2018 and bounced.
4. Dec 2018 and Jan 2019 candles indicate reversal- ( Pin bar & Inverted hammer combo )-
BTC Weekly Chart -
1. in BTC's run from 2015 bottom to ATH in 2017, almost every red weekly candle was followed by a green weekly candle that closed above the red candle's highest price. (Marked by Green Flags)
2. The candle that followed the ATH candle closed below the lowest price of the ATH candle ( Marked by Red Flag )
3. The candle that followed December low closed higher. First weekly candle of Feb closed higher than its previous red candle.
Not terming them as "Engulfing" candles because technically, they aren't.
FA- BTC got to near 3K without any catalyst or any particular event. Whatever price action happened later always had one or the other catalyst that fueled the pump. I request you to Google each event and see for yourself whether or not all or any of them influenced price action.
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