After BTC's wild month, we've reconfirmed $6,500 support
Wild ride the last few weeks I hope you got some good swing trades in!
BTC is currently caught between the previous market's support at $6,500 and the current market support around $7,700.
The recent descent showed a strong bounce off $6,500. I expect another confirmation of $6,500 by the end of November, followed by a bounce back to $7,500-7,700 by Christmas.
From there, I expect we'll see high volatility and stay range bound between $6,600-7,700 before a major jump by in Spring or early Summer 2020.
If the next test of $6,500 fails, something I see as unlikely, we could see a drop back into the downward range we've seen since June or even a real crash back to $3,500.
BTC is currently caught between the previous market's support at $6,500 and the current market support around $7,700.
The recent descent showed a strong bounce off $6,500. I expect another confirmation of $6,500 by the end of November, followed by a bounce back to $7,500-7,700 by Christmas.
From there, I expect we'll see high volatility and stay range bound between $6,600-7,700 before a major jump by in Spring or early Summer 2020.
If the next test of $6,500 fails, something I see as unlikely, we could see a drop back into the downward range we've seen since June or even a real crash back to $3,500.
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