Bitcoin view for nowDecember 18, 2018
On the scale of the month, we are approaching the MA50 and most likely in the end we will not just touch it, but we can confidently break through, as we did it a couple of times with the past like a global reversal, the situations are very similar. But since the current fall was too fast, we can now rise slightly as part of the correction of this fall. Perhaps on the scale of the month we will get a beautiful green candle with a close above the current red one and as a result of this correction we will be able to touch the 5000 mark.
On a weekly scale, we touched the MA200, where we received good support, from where we still rebound and are currently trying to overcome important resistance (about 3650), locking above which we will get greater chances to rise to 5000. There will be few chances to go further up , with a high probability after the 5000 test, we can again continue the downward trend.
On a daily basis, we have a good bullish mood, but we repeat that the market is weak and for further positive it is necessary to overcome local resistance. If we fail to fix ourselves now and we get a step down, we will probably continue to decline for a few more days. And this time the support of 3200 may not hold the market, there will be a big chance to test the 3000 mark, which also does not inspire confidence now.
If we close above local resistance – we go further upwards, if we take a step down, then we continue to fall in the downward channel.