A quick update for the BTC monthly view.
It is interesting to note that neither MACD, nor Stoch RSI are showing signs of potential trend reversal.
Only the middle bband could signalize that we are resting on support. Currently we are exactly on the monthly bband, if we can hold that level, we might see a trend reversal.
If however, we break the middle bband, we'll go quite lower, towards 3k in a few months.
Let's see what will happen, there are so many contradicting charts right now, we'll have to wait and see which direction BTC will take. But whichever direction that will be, will determine the longterm trend. So, if we go below the middle bband in the next 2 months -> 3k in 2019 low. If we stay at middle bband and start rising -> no new low, new ATHs maybe mid-end 2019.
It is interesting to note that neither MACD, nor Stoch RSI are showing signs of potential trend reversal.
Only the middle bband could signalize that we are resting on support. Currently we are exactly on the monthly bband, if we can hold that level, we might see a trend reversal.
If however, we break the middle bband, we'll go quite lower, towards 3k in a few months.
Let's see what will happen, there are so many contradicting charts right now, we'll have to wait and see which direction BTC will take. But whichever direction that will be, will determine the longterm trend. So, if we go below the middle bband in the next 2 months -> 3k in 2019 low. If we stay at middle bband and start rising -> no new low, new ATHs maybe mid-end 2019.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.