So we obviously couldn't pass that $13.8K resistance and are now bullish on the weekly, supported above the 23.6% Fib level. Last week's candle looked ugly but we stayed above the monthly close of $11.8K.
RSI looks neutral to the high side a but. Are we bound to test the $9.6K to $8.6K levels?
Long term: We are currently at the top of the multi-month resistance line since June 2015 that we broke over in May 2017 rising 85% from $1.4 to $2.7 and then under in November 2018 for a 44% capitulation of the 2018 bear market from $6.6 to $3.6. The bottom of the monthly trend is at $7.7K so I doubt we go below that.
Mid term: If we start trending up at the $9.6K level after falling a bit or if we break through $13.8 then we're bullish? :)
Keep it simple
RSI looks neutral to the high side a but. Are we bound to test the $9.6K to $8.6K levels?
Long term: We are currently at the top of the multi-month resistance line since June 2015 that we broke over in May 2017 rising 85% from $1.4 to $2.7 and then under in November 2018 for a 44% capitulation of the 2018 bear market from $6.6 to $3.6. The bottom of the monthly trend is at $7.7K so I doubt we go below that.
Mid term: If we start trending up at the $9.6K level after falling a bit or if we break through $13.8 then we're bullish? :)
Keep it simple