BTC complete long term analysisMost significant trend is shown in the 4hr H/L - 1 box reversal with the box size of 200
The green uptrend line is broken and acts as a resistance for the bulls. A red downtrend line is drawn from the 17100 level and bulls must overcome this line in order to find hope for any further upside. Support could be found just under the 10000 psychological level.
I've added two additional charts below.
A standard 4hr candlestick chart with value zones and control lines
This, as well, shows a long term downtrend continuation. A smaller downtrend value area is drawn on top of the main one, as the price spent a significant amount of time in the area, using main trend's value high and control line as supports. Finally the bears managed to tear down the gates and leave a bloody road of red candlesticks behind, being caught by the bulls and chased back up to the high value zone. Currently a small value area from previous sideways trading is acting as support.
A 1hr H/L - 3 box reversal with the box size of 200
The only chart still being held up by the two uptrend lines. A high pole formation just finished, indicating a reversal of the pole trend - to the south we go.
Break of 13100 for double top and bullish indication. A break of double bottom at the 10400 level would indicate further downside
Conclusion: Looking for an equilibrium pattern to play out and find the next low at around 10500 level. If the 3 box double bottom breaks at 10400 and candlestick's control price line fails to hold back the bears, we'll be looking for a double bottom at 9100 and a W - bullish pattern play out.
