if you draw a time based fib from 5.8k resistance oct 2017 turned support in 2018, accumulation should last a few more months with sideways range - new moon eta January 2019
though bb contraction and tax sell-off could push a significant move earlier. but if we break down, the weekly 200 MA @3k will be strong support. Rarely in the historical data has btc dropped below the weekly bb low - currently at 5.7k; though everyone's stop at at this range... so cascading down to 3k with a bounce back to resistance at 6k is possible. I have a resting order at this 3k level, just in case.
Remember, trade and/or invest at your own risk. This information is presented for educational purposes only.
though bb contraction and tax sell-off could push a significant move earlier. but if we break down, the weekly 200 MA @3k will be strong support. Rarely in the historical data has btc dropped below the weekly bb low - currently at 5.7k; though everyone's stop at at this range... so cascading down to 3k with a bounce back to resistance at 6k is possible. I have a resting order at this 3k level, just in case.
Remember, trade and/or invest at your own risk. This information is presented for educational purposes only.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.