Gann - BTC going sideways til Thanksgiving?
The Nov 14th daily closed above the 16,200 horizontal support level of the Gann square. Given the proximity to the arc and the next vertical 'time' interval, its likely BTC will go sideways until the 20th and up to the 23rd possibly.
The 3 day candle pattern is bearish, so a touch up to the arc and a break below 16,020 in the today or tomorrow is also reasonable, but the overall bullishness of BTC leads me to believe the sideways action is more likely.
After the 22nd or 23rd, we need to wait and see if a formation develops to show us the direction. BTC could easily go bearish down to 14,400 range into the first week of Dec, following the Arc down to the 1/2 fan level, giving us a healthy correction, or BTC could continue up to 17,200 resistance and beyond, up to the 18,340 horizontal resistance level of the next Gann level.
By Nov 25th, we should have a good idea where BTC is heading during the first week of Dec.
The 3 day candle pattern is bearish, so a touch up to the arc and a break below 16,020 in the today or tomorrow is also reasonable, but the overall bullishness of BTC leads me to believe the sideways action is more likely.
After the 22nd or 23rd, we need to wait and see if a formation develops to show us the direction. BTC could easily go bearish down to 14,400 range into the first week of Dec, following the Arc down to the 1/2 fan level, giving us a healthy correction, or BTC could continue up to 17,200 resistance and beyond, up to the 18,340 horizontal resistance level of the next Gann level.
By Nov 25th, we should have a good idea where BTC is heading during the first week of Dec.
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