Bitcoin Weekly Analysis.
Bitcoin from weekly price action point of view is looking to retest it's Weekly support zone which is 30k.
Short term BTC might have already completed Right shoulder of H&S BTC is creating on weekly chart and BTC currently is experiencing downtrend because of Confirmed Bearish Divergence that played out and still is in play.
BTC for near term future is not looking bullish.
BTC also was rejected from Log Regression chart and might to looking forward to retest even 20k which is Median of Log Reg Channel and is also ATH Support level from 2017.
It would be extremely bullish for BTC to create some liqudity in 20-30k Zone and retest 20k Zone.
Rest, i could very well be wrong.
But i would like to attach my previous ideas for references :-
https://www.tradingview.com/chart/BTCUSD/UYYOCfzE-BTC-not-looking-good-for-Bulls-right-now/
and above picture is from This idea :-
https://www.tradingview.com/chart/BTCUSD/tSASGrLC-What-is-an-Expanded-flat-and-its-importance-in-BTC/
I am hoping for a Santa rally till 50-55k$ for more a last BULL Trap before another flush down.
Trade Safely. Enjoy and look out for 15th Dec Fed meeting outcome.
Short term BTC might have already completed Right shoulder of H&S BTC is creating on weekly chart and BTC currently is experiencing downtrend because of Confirmed Bearish Divergence that played out and still is in play.
BTC for near term future is not looking bullish.
BTC also was rejected from Log Regression chart and might to looking forward to retest even 20k which is Median of Log Reg Channel and is also ATH Support level from 2017.
It would be extremely bullish for BTC to create some liqudity in 20-30k Zone and retest 20k Zone.
Rest, i could very well be wrong.
But i would like to attach my previous ideas for references :-
https://www.tradingview.com/chart/BTCUSD/UYYOCfzE-BTC-not-looking-good-for-Bulls-right-now/
and above picture is from This idea :-
https://www.tradingview.com/chart/BTCUSD/tSASGrLC-What-is-an-Expanded-flat-and-its-importance-in-BTC/
I am hoping for a Santa rally till 50-55k$ for more a last BULL Trap before another flush down.
Trade Safely. Enjoy and look out for 15th Dec Fed meeting outcome.
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