Bitcoin Log Growth Curves

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• Uptrend and 23.61% Fibonacci Log Growth Curves are known on the same line
  
• Support defined through previous pivots and Fibonacci Retracement (dotted red) known at 40.5k$
  
• Probably BTC will triangulate between uptrend and downtrend until early February and break into uptrend until resistance of with target at 50% Fibonacci Log Growth Curves, thus reaching again 69k$
  
• If it breaks support of 40.5k$, there will most likely be a strong drop towards the next yellow support 30k$
  

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As written before: (Uptrend line = 23,61% Fibonacci Log Growth) + Support at 40,5k$

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TOTAL reacting to support

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The U.S. Dollar Index tracks the strength of the dollar against a basket of major currencies. (DXY) originally was developed by the U.S. Federal Reserve in 1973 to provide an external bilateral trade-weighted average value of the U.S. dollar against global currencies. U.S. Dollar Index goes up when the U.S. dollar gains "strength" (value), compared to other currencies.

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Currently we are 34 weeks from the 64k peak last April, and though this is a corrective type structure, the strength of the bounce is rather strong, so IMO we are looking for the next leg higher, potentially into the mid 70k area for a rally.

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Bitcoin Monthly Bullish Scenario

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Technical analysis