FACTS:
- Some good amount of rejections around current level
- Nice Spring from BTC around 53k level
- Accumulation phase at this level with higher Low
I'm more bullish than another downward Leg and Accumulation phase around 52-53k. So the good case is BTC goes up after making a breakout above both the MA, then making some correction and look for Bid Wall to find your Corrective level to Jump in.
Worst case: It went down, also look for accumulation phase around 52-53k and wait for another Spring at the trendline and Supporting level along with some bearish Trap. Then all are set to go.
- Some good amount of rejections around current level
- Nice Spring from BTC around 53k level
- Accumulation phase at this level with higher Low
I'm more bullish than another downward Leg and Accumulation phase around 52-53k. So the good case is BTC goes up after making a breakout above both the MA, then making some correction and look for Bid Wall to find your Corrective level to Jump in.
Worst case: It went down, also look for accumulation phase around 52-53k and wait for another Spring at the trendline and Supporting level along with some bearish Trap. Then all are set to go.
Comment:
42k for first touch
The second path is to have deeper correction or "much deeper" if the MM wants to take Xmas early for such a year. So, keep your eyes open for signals of both cases. 52-53k is the level to watch.
Monthly chart may lead market to 44k or lower (it's all possible). But from there, BTC is on sideways mode, and take a lot of time to accumulate to resume the trend (if still) or distribute (if bearish for next year)