BITSTAMP:BTCUSD 9.67% stays in its 500+ days channel. Resistance (black line) was overshot end of last November, forming kind of a "bubble" with its peak in mid-December. Thus, reentering the channel looked like free fall, like a crash. It was not, it just returned to normal.
Now, resistance (blue line) might be retested but more probable, BITSTAMP:BTCUSD 9.67% will directly rise towards the resistance (~15-20k) in about the next two months.
Furthermore the channel seems viable in the mid-term, giving a price-prediction of 50 to 100k for the end of 2019. Enjoy the last four-digit days;)
Now, resistance (blue line) might be retested but more probable, BITSTAMP:BTCUSD 9.67% will directly rise towards the resistance (~15-20k) in about the next two months.
Furthermore the channel seems viable in the mid-term, giving a price-prediction of 50 to 100k for the end of 2019. Enjoy the last four-digit days;)
Commentaire:
Add the 200-day moving average to your chart and see some additional support preventing a second dip to the blue resistance/trend line.