My BTCUSD guesstimate as to future price action...
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My thesis revolves around the stubborn resistance at the 19,144 level. (The (now) dark green horizontal line.) I believe that it will prove to be equally strong support following the next correction.
If the 30% correction that everyone expects is indeed coming, then we can expect that the point where the correction begins is 30% greater than the last strong resistance, which is the aforementioned 19,144.
I have depicted light resistance at 22K with a light red trendline, and the expected hard resistance at approximately 25K with a dark red trendline. That dark red trendline follows a clone of a prime trendline depicted in dark blue.
My chart would have us hitting that resistance in mid-January. At that point, I expect a brief correction back to around 19,144, followed by a resumption toward the upward trending channel depicted.
If the 30% correction that everyone expects is indeed coming, then we can expect that the point where the correction begins is 30% greater than the last strong resistance, which is the aforementioned 19,144.
I have depicted light resistance at 22K with a light red trendline, and the expected hard resistance at approximately 25K with a dark red trendline. That dark red trendline follows a clone of a prime trendline depicted in dark blue.
My chart would have us hitting that resistance in mid-January. At that point, I expect a brief correction back to around 19,144, followed by a resumption toward the upward trending channel depicted.
Note
Correction, "My chart would have us hitting that resistance in LATE DECEMBER."
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