BITCOIN - possible staircase down pattern start | been busy with newborn next stage of life
Looks like the from the last post, limited upside was valid. These kind of sudden up then consolidate and sudden down really traps ppl. On 4hr possible start of staircase pattern down. Next good support around 3680 again. On daily chart, looks like a possible horizontal consolidation between 3680 and 4200 maybe until mid/end of jan for spike to test the long term bearish channel top resistance around 4400 but 3680 must hold first.
PS : Been away for the past few days for my newborn, entering new stage of life =)
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Short term moving average (day candle) :
RSI :
Network Value to Transactions Ratio :141
Total marketcap :127
Dominance :52.4
Bitfinex Margin Long/Short Volume Ratio :
Depth Chart : (S) | (R)
Weekly Timeframe :
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We should see price go down to 3500 before going up again.
The invalidation level is at the last low, 3120.
If it breaks, we'll see even lower prices.
For now, wait for correction to end near the 61.8% retracement and then start buying up to 4500 as first target