Dec 2020 Resistance is BTC's last chance to hold previous ATH.
We have hit the rising channel target of 26K. If we lose this level again with volume support and confirmation candles we will test the 22K level we have not seen in nearly 2 years. Simply put, any 3-4 hour candle closes below this level is the start of a major capitulation. We will chart the Elliot Wave levels and areas to watch out for if this happens. Even if we get a weekend bounce to higher levels, these levels are still areas to watch out for. There is always a chance that BTC breaks out of this slump but it is not a coincidence that the whole crypto market is seeing this move to the downside. We ARE in a BEAR market. There will be pumps in a Bear market just like there are dumps in a Bull market, but do not let these moves fool you. It is now time to be more vigilant than ever before if you are a HODLer. If you want to make money shorting, go ahead and short the break down confirmations. If you buy right before any of these dumps, just hold because BTC will recover in the future. It is a great time to accumulate your favorite coins. Keep up with our charts to see more moves and price targets as the market gives us signals. HAPPY TRADING!!!
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