Bitcoin update 17/Dec/2019

Bitcoin update 17/Dec/2019

On the previous post about BTCUSD, I wrote:

The most rational expectation – a continuation of the persistence of bulls and more attack on the 7020 support level (caused by major 7k figure).

Unfortunately, it was my mistake. I put the wrong word “bulls” instead of “bears”. I hope, you have understood my thoughts correctly, as bulls can not attack support levels.

What new did we have to get on the chart?

1/ SLKT above previous minor highs and above round number. This diversion designed to: a) kill sellers b) trap buyers. It is a sign of upcoming decline
2/ SB (confirmation)
3/ ND (more confirmation)

Then we got the Breakdown. The successful attack of bears on the 7020 support level (caused by major 7k figure). It was a very heavy dump. 7k should act as the resistance now.

What is next?

Follow the links below.

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