Bitcoin update. BTC-USDT on December 12, 2018December 12, 2018
On the scale of one month you can clearly see how the price approaches 3000 times (more than once voiced).
On a weekly scale, today we look worse than yesterday, the candlestick closes below the past low – a rather bad signal. Now it is better to remain neutral, bullish signs are still present and it is better to observe from which direction the market will go. If we close a little lower, then we will be even more bearish next week, if we manage to close higher, then the next weekly week we should expect the formation of a bullish candle.
Bitcoin continues to move in the descending channel. It was not possible to overcome the important resistance around 3650-3750 and then it is not enough to do it, most likely we will continue to move down the channel. Visible support on a 1-day scale does not look very good, there is little chance of holding the price. Candles look neutral, the next candle may be green, but after it we will probably get another red one with a breakdown of support and a step down.
On a 12-hour scale, the appearance of a doji candlestick is positive, which can lead the market to a resistance test. But globally the market is still neutral and it is now quite dangerous to open long positions or if only with a minimum stop. Even an impulsive breakdown to resistance will not indicate a reversal or a globally bullish character, then most likely we will go down again.