Monthly Chart Overview
We touched on the upward green trend line , and are currently holding on the 50 EMA (monthly), and finding support on the first downward dashed trend line in green, which coincides with the 0.78 Fibonacci Retracement level drawn from the last December 2018 bottom (3100$) to the June 2019 peak (14000$). The 0.78 level from the very bottom is at around $4000, just around were we stopped (not sure if this means anything). Stock RSI is still in a downward trajectory, and we are still under a MACD bearish crossover.
We are still, possibly, in this symmetrical triangle formation (in this case, a bullish one).
A more bearish case scenario would put bitcoin in the low $1000 range, making it visit the top of the second to last bull market top, a move similar to the one that occurred during the bottom of 2015 (low $200).
Disclaimer: Not financial advice.
We are still, possibly, in this symmetrical triangle formation (in this case, a bullish one).
A more bearish case scenario would put bitcoin in the low $1000 range, making it visit the top of the second to last bull market top, a move similar to the one that occurred during the bottom of 2015 (low $200).
Disclaimer: Not financial advice.
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