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Bitcoin Monthly Candle Closing Update

01/31/2019 19:15


It's important to have an understanding of the historic price action of Bitcoin between $2k and $3K because it did no range in that area for very long. Once again the price action could be setting up to test this area and find a new trading range sub $3K... Note the longer term historic support level and time spent sub $2K was longer and created a more stable base of BEDROCK SUPPORT...

Top to bottom 2013-2015 and once again the same time range has been achieved in this bear market. Lower lows are the greater possibility and a longer ranging period than the last time puts the return of a Bull market late into this year and or well into 2020. Of course Bitcoin has the rare effect of surprising everyone. Mass adoption and institutional acceptance can all be bullish catalysts for the next bull run to happen sooner than later...

 


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