Here`s the last BTC analysis for the 2019.
1st chart:
First of all i`m really tired at this time of the year but no matter of that i`ll make some quick analysis for BTC. I`m continue to use 1W chart for now. We couldn`t see 3 consecutive green weeks for now so let`s talk also about the nearest support and resistance levels. We`re now around $7200 level (confirmed by 61.8 Fibo level and by the historical PA )which was the last support and it`s the next resistance. The next resistance is at $7800 by the historical PA and after that level the next resistance will be at $8500 (50 Fibo level). As i`ve already mentioned that the $7200 line is more like resistance now, our next and crucial support is $6400. Below that level… I won`t imagine. About the Moving averages nothing was changed. Like I`ve said in my last analysis this 144 EMA is a very good technical indicator. As we see from the chart the price price perfectly bounce from it AGAIN which is a very positive sign.
About Volume… well, it`s normal to be such low at this time of year and i`m expecting to go even lower till the beginning of 2020. In that case, with such low volume, it`s way more easy manipulations to be made so don`t be surprised if we see some strange moves (positive or negative) during this 2 weeks.
And at last I want to mention something which I didn`t mark into the chart but sounds good. There`s some bullish divergence into both 1W and 1D charts. Check it out by yourself.
2nd chart:
May be everyone already knows about the PlanB Stock to flow BTC model. According to this model the price of BTC will reach $100 000 by 2020, $1 300 000 by 2024 and $18 000 000 by 2028. This sounds very good for all HODL-ers but also it`s very astronomical may be. The newest Stock to flow model is presented by SwissRex. It`s predicts BTC price at the end of 2020 to be $25 000, $70 000 by 2024 and $170 000 by 2028. That`s way more realistic for sure but got to mention that both models fits the same for now. Only the future will show which one will be more accurate.
That`a all for this week, this month and this year folks. Christmas is almost here as long as New year too so i`m out of every kind work. No work, no Forex and no Crypto (even BTC). That`s a family holidays so just be with your family. Celebrate, relax, take your time. Happy holidays to all and let`s we all have a wonderful new 2020 year!