Bitcoin versus major world currencies. Bearish market for now, no doubt. I would not go long at any case.
Breakdown below yearly S1 will send BTC to the lowest yearly low of S3 or even S4.
I have bearish look because:
1. Price below yearly pivot and year CPR (opened below those, tested and rejected from both)
2. Price below monthly pivot and monthly CPR (opened below those and rejected from both)
3. Lower value relationships (lower lows) between both yearly and monthly pivots, CPRs.
Though this year we did have CAMR3-CAMS3 (value area) squeeze within last yearly value area. And if price would start trendling above current yearly CAMR3 then I would take a bullish stance but it did not and more narrow 2020 CPR suggests more volatility to the downside. Price might reach 2020 CAMS4.
Breakdown below yearly S1 will send BTC to the lowest yearly low of S3 or even S4.
I have bearish look because:
1. Price below yearly pivot and year CPR (opened below those, tested and rejected from both)
2. Price below monthly pivot and monthly CPR (opened below those and rejected from both)
3. Lower value relationships (lower lows) between both yearly and monthly pivots, CPRs.
Though this year we did have CAMR3-CAMS3 (value area) squeeze within last yearly value area. And if price would start trendling above current yearly CAMR3 then I would take a bullish stance but it did not and more narrow 2020 CPR suggests more volatility to the downside. Price might reach 2020 CAMS4.