As we see recently, bitcoin was moving in a price cone. A market reversal zone was emerging around November 13. However, as you can see on this graph, it didn’t take that long. The Bitcoin broke down its support right that had emerged more than a week ago.
The gap between the support and resistance zone was gradually reduced (2.61%). The drop-out at first came down sharply (-4.51%) before going up slightly and looking for a more logical target around -2.5%.
What happens next? It is possible that prices will return to the same trend but simply in a lower price range. Beware, if this is the case, it means that we will reach a new pivotal zone around December 15th – 16th. Here is the evolution channel for this hypothesis.
We are taking a step back to see if this hypothesis could be realized. Patience and prudence therefore.
We are taking a step back to see if this hypothesis could be realized. Patience and prudence therefore. Here are some key values for today, 15770€ - 15487€ - 15222€. The next 3 days will undoubtedly be very important for the medium-term future of Bitcoin.
To follow, caution and responsiveness mandatory.
