BEARS ARE BACK IN PLAY! But Long term trend still bullish!!
BTCUSD's blowoff top, 30 day phase ended December 17, 2018, harmoniously near key GANN Solar year date, Dec 22. At this point began BTC's 30 day reversal pattern which confirmed in 29 days since the December high. Next phase, the continuation phase, lasted an additional 30 days, with price breaking down the neckline BTCUSD -6.73% 12500, and quickly retesting, only to fail and complete a measured move from the December '17 highs down to BTCUSD -6.73% 6000. As this move was 'Oversold' considerably, on numerous technical indicators, a bounce occured off the measured move into our current phase: Retest.
Expectations for February - March 2018:
I expect the declining tops line to hold as support in the Retest phase, and into the continuation phase.
In the near term,
1. I expect BTCUSD -6.73% 12500 to retest in February, finding selling pressure before March begins.
2. I expect BTCUSD -6.73% 6000 low to retest in mid March, offering some support, and into a minor correction.
In April 2018 I expect BTCUSD -6.73% to reach 3000 before establishing legs for the next bullish move up.
I am utilizing GANN days after a top/bottom to forecast potential correction/continuation/reversal days.
I am utilizing key pivot points (price levels) that may indicate support or resistance for a potential correction/continuation/reversal of the trend.
*Notice how price finds key trading levels at 3000 6000 12000 18000
*Notice key days from reversal 30, 60, 90, 120, 135, 180
Expectations for February - March 2018:
I expect the declining tops line to hold as support in the Retest phase, and into the continuation phase.
In the near term,
1. I expect BTCUSD -6.73% 12500 to retest in February, finding selling pressure before March begins.
2. I expect BTCUSD -6.73% 6000 low to retest in mid March, offering some support, and into a minor correction.
In April 2018 I expect BTCUSD -6.73% to reach 3000 before establishing legs for the next bullish move up.
I am utilizing GANN days after a top/bottom to forecast potential correction/continuation/reversal days.
I am utilizing key pivot points (price levels) that may indicate support or resistance for a potential correction/continuation/reversal of the trend.
*Notice how price finds key trading levels at 3000 6000 12000 18000
*Notice key days from reversal 30, 60, 90, 120, 135, 180
break down of ascending wedge confirmed today. with price target 10100