Context
In November 2020, Bitcoin rose to a local high of $19.5k USD, challenging the all-time high set in December 2017. The run to $19.5k in 2020 occurred after a March low of $3.5k, and was highlighted by an impressive jump from around $10k-$19.5k in the Sept-Nov months.
Summary
Look for these ranges listed below. Support ranges 2-3 will put this period of consolidation, right where it expected, relative to 2016-2017 runs up to the contested ATH of $19.5k (30% consolidations were norm in that period).
Support Range 1
In November 2020, Bitcoin rose to a local high of $19.5k USD, challenging the all-time high set in December 2017. The run to $19.5k in 2020 occurred after a March low of $3.5k, and was highlighted by an impressive jump from around $10k-$19.5k in the Sept-Nov months.
Summary
Look for these ranges listed below. Support ranges 2-3 will put this period of consolidation, right where it expected, relative to 2016-2017 runs up to the contested ATH of $19.5k (30% consolidations were norm in that period).
Support Range 1
- $17.2k
Support Range 2 - $14.5-$14.7k
Support Range 3 - $14.0-$14.3k
Support Range 4 - $13.2-$13.3k
Stop Loss for Support Ranges - $12.5-$12.7k where we see risk outweigh potential gains
Bulls in Trouble/Trend in Jeopardy - Lower kelt on the 1wk chart. A line where I'd recommend having a stop set incase its reached.
REKT Line - Bears have full control - Self Explanatory, a break below this line will look terrible for bulls and crypto alike. 40-50% drop.
Nota
Still Relevant.
Eric Thies
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Eric Thies
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.