Bitcoin has been moving sideways in recent days, but 11800 USD/BTC is evidently barrier which is to strong to be crossed in the near future. If some whales have no intention to sell bigger sums of Bitcoin, it is more likely (75% probability) that it will turn bearish but not very deep. Levels around 11k USD / BTC will first be tested in a downward direction.
It is possible that even lower levels will be reached first (around 10k USD/BTC, p=30%) in the next 10 to 14 days, but after this correction there is clear intention to conquer new heights.
MA levels from MA55 to MA233 are defence lines, if downwards move will happen. But this scenario is not very probable. (p=25-30%). So price movements is still agree with my previous TA analysis from 25. Aug. 2020. I recommend you to check it.
On 4 hour period chart it is evident that the price is confined between MA233 on the down side and convergent MA89 and MA144. Situation when Fibonacci spaced moving averages with shorter period is confined between two averages with longer period, price will many times stay between longer ones.
That's all folks, for today. More content will be provided on regular basis.
I invite you to check my blog series about Open Cryptocurrencies. Blogs are linked together, so you can browse through using links at the begging and the end.
