Just as in my other article from today, ETH/USD - Complete review - November 2019, I will here write an entire review coming from the very large movement and short one about BTC as we're approaching end of year market. 

Just before, I'd like to let you remark that I work with price closures. This has two reasons : first, price closure determine the ending the market decided to be the most acceptable and extremes are only testing zones the market wanted to try out. Secondly, as you will see on the graphs, it gives particularly relevant informations regarding technical drawings. 

Monthly

So to begin, let's remark that, on a monthly view, BTC has always been bullish. As it is now oscillating between its Kijun and Tenkan M, we can see that Chiku Span approaches the price very dangerously. This brings two options : a rebound on it that would catapult the price above its highest historic point, or a cross that may bring more uncertainty in the market. 

Weekly

A very short paragraph accompanying this graph to remind that the price is evolving into a perfect upward parallel channel since 25th of November 2013 !

A picture I already shared in almost all my articles about BTC showing that famous upward triangle that may propel the price up to 900'000 $ by the end of 2021 above its actual parallel channel... But let's not dream too much and just hope it'll still bring the half of it, this would already be awesome. 

On this graph the proof for the previous numbers. 

If we close up the the head of triangle, we can appreciate a wonderful correction movement happening in three candles, three weeks in that case, that may end-up on the Tenkan W & M support around 8'500 $. This is nice as it may bring the price to test the roof of that triangle again and maybe try to step out. But it could also go for a fifth rebound on the bottom around 6'400 $. Even if this theory seems unlikely regarding the actual movement, it is still an existing option. 

Daily

Here you can see very well what I said in the beginning about the drawings and the closure prices. the angle formed earlier whose bottom initially worked as a support, is now acting as a resistance to the price. 

We can see circled the correspondance to the price correction we earlier saw on the weekly chart. Also well visible Tenkan M acting as a support as it was earlier acting as a resistance, and Kijun D & Tenkan W both resistant to a new growth (sorry for the mistake on the graph, I wrote the wrong labels on those two). I do not see this resistance as a bad thing at all as it may then push the price higher corresponding to an uptrend following the weekly correction in three candles. 

Then the price would have to face Kijun W & M, which represent a very strong resistance, but we're not at this point yet. We'll have to wait some more weeks to analyse what will come. 

4h (240 min)

In this time unit the price is still evolving in a downward parallel channel (not visible if you use extreme prices), with a smaller one corresponding to those famous three weeks correction. 

And if we check closer that smaller channel, we can even see a shorter resistance trend line drawn in red here. This one is really important as it may support the price while trying to overcome Kijun D & Tenkan W. So in case of a break above that trend line, I'll really check closer the movement to try to take benefit from that new growing movement. 

Conclusion

For those who follow my analysis from long time, you know that I wasn't bullish upon BTC before it would touch 6'500 $ again (bottom of the weekly triangle). But regarding the actual movement I may change my mind. Still I'm not giving all in. I will probably try to take small percentages on the next week movement, but I'll still be really careful until price closes successfully above its Kijun W for a long term position. 

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