The Bitcoin price consolidated on the blue support line (see chart below) and appears to re-test the highs of the early November rally. I see a maximum retest at 2595 (see chart below)
Long entry: 2100
Stop loss: 2045
First target: 2340
Second target: 2595
P:S: Right before I posted the chart, the current candle was also trending up (green). Just imagine a green color not a blue color there :)
Blue support line and highest resistance:
Here is the chart just with the first target and monthly support and resistance prices, as well as the monthly pivot (green):
Long entry: 2100
Stop loss: 2045
First target: 2340
Second target: 2595
P:S: Right before I posted the chart, the current candle was also trending up (green). Just imagine a green color not a blue color there :)
Blue support line and highest resistance:
Here is the chart just with the first target and monthly support and resistance prices, as well as the monthly pivot (green):
Kommentar:
The trend changed as expected (red arrow on the main chart above) back into a correction. This could be the start of a larger downtrend:
My second long target remains at 2595 CNY, but since this rally was way too fast I currently doubt that the market will reach it.