3 days ago bitcoin broke above 24700 reached a new ATH around our 28k target😊. We’re clearly in the optimism phase of the market bull cycle with the next target to be around 29k$/31k$. I would expect the January-February period to be more corrective/retrace for Bitcoin.
The most reasonable scenario would on the monthly candle(December) blow-off top around 30$k/31k$, followed by a few weeks of rage and consolidation with an expectation of 20/40% correction. the momentum is heavily overbought across all the remaining timeframes, nothing can go up forever. it wouldn’t be a surprise if we enter a few weeks of correction starting with a volatile marked dump into 2021.
Locally supply $26300 - $28400
Supports at 26272 and 24679 in case BTC pulls back.
Resistance $27559 - $27828
As long as price action remains between $26k – $28k(alts are safe to trade), I expect sideways #movements and #indecision which is, of course, good for ALTs coins
When alts season? check out my last update.
Targets are on the chart.
The most reasonable scenario would on the monthly candle(December) blow-off top around 30$k/31k$, followed by a few weeks of rage and consolidation with an expectation of 20/40% correction. the momentum is heavily overbought across all the remaining timeframes, nothing can go up forever. it wouldn’t be a surprise if we enter a few weeks of correction starting with a volatile marked dump into 2021.
Locally supply $26300 - $28400
Supports at 26272 and 24679 in case BTC pulls back.
Resistance $27559 - $27828
As long as price action remains between $26k – $28k(alts are safe to trade), I expect sideways #movements and #indecision which is, of course, good for ALTs coins
When alts season? check out my last update.
Targets are on the chart.
