BTC Important area to be tested soon
Updated
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.
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