Amazon has been consolidating since September 2nd, 2020 ATH. Look for pattern to complete sometime in March or April with a potential break to the upside. Target for a breakout to the upside will be the ATH of roughly $3550.
This chart shows long term support/resistance levels for BTC going back to 2017. While I don't expect BTC to go below the support at the 2018 ATH weekly close ever again (roughly 19.4K), still interesting to see how far we have come. Recent consolidation showed strong support at around the 29K level, and I will be watching the support at the weekly open on Feb...
Strong support at weekly open (Feb 8th, 2021) should hold and continue to go up regardless of reddit madness. Weed will continue to be legalized on state level throughout this year, and possibly federally decriminalized to fulfill Dem/Biden campaign promises.
