BTC on the weekly

2019년 7월 31일If we pull out to the weekly we get a better picture of the longer term trend for BTC

I'm seeing more downside, possibly the 7K range and 78.6% on the Fib retracement.
There is strong support from 6.8k down to 6k a fall below 6k will be a very bearish signal for me. In this scenario I believe we may see 4K again.

If BTC bulls win at either the 68.1 fib ($9770) or 78.6 fib ($7020) expect a new yearly high and I would also expect we could see a new ATH in 2019.

On the flip side a fall below 6k will create one last opportunity for BTC believers to fill their bags on the cheap. With a sharp fall to circa 4K before a we see a rebound surpassing current levels.