This is an extremely bullish case for long term based on past market cycles. $20k would be reached exactly 2 years from now.
ALERT: not a financial advice, just based on past movements and assuming Bitcoin has already bottomed. It is still very likely that BTC could drop even lower than $3k. Stay tuned.
STOCHASTIC: Indicator is severely overbought as well as the RSI & other oscillator indicators.
SCHIFF PITCHFORK: Median line has been well respected in the past and price is struggling to cross this large resistance area.
VOLUME: Breakout of the 8200~8400 level was not followed through with volume indicating the lack of buyers in the market. Volume over the last...
Bottom was in few months ago, i don't think we will be seeing 3k Again. The Support and Resistance indicators show that Bull Market started just a month ago along with that MACD turning green, with that Daily 30 and 200 MA cross or was it EMA?
A clear weekly closure above what was once a critical support now turned rejection, having 10 plus touches before we beared down and saw $3k BTC. that alone for me is an extremely comfortable signal for a slow and steady retestback to $20k!