USDT / BTC bounces or doesn't bounce, that's the problem

Last Thursday we had the opening of the new 30D spark plug, well below the pivot point, with the next dump that coincided with the R1 test; at this point it becomes likely that in the next few days there will be a rebound, even of a discrete entity. The MACD, still on a monthly time frame, has meanwhile returned bearish, while for now it holds the Parabolic SAR; there is room for a discount up to $ 5500 (in correspondence with R2, which should provide a solid support), then also the parabolic SAR will return bearish. Looking at things from the 7D chart we realize that the R2 should represent the new fund, the feeling is that in any case we will hardly see BTC return below $ 5000, although we cannot exclude that the new fund, before the next bull run, coincides with that of December 2018; if things went like this we would have to wait for the price to reach the $ 3,000 again before seeing a new inversion, in any case I don't think this is the most likely scenario. Looking at the 1D chart, the feeling is that there could be a rebound beforehand in a range between $ 8200 and $ 8700, from here then new discounts should start which will lead us slowly up to $ 5500, which I currently consider the new fund , according to what I believe to be the most likely scenario; therefore keep liquidity aside and stay a little out of the market, even if there should be increases in the next few days it will be nothing epochal, you will have ample opportunities within the first quarter of 2020 to buy at a fixed price

Weekly forecast

Although I consider a rebound very likely, I would not advise you to challenge fate; probably from here to the next few weeks bitcoin will be able to get back above $ 8000, with a profit of around 20% compared to current prices, but it is a move that in my opinion is not worth the candle. If you want to play at making kamikazes go ahead, but at least protect yourself by placing a stop loss in the $ 6,700 zone, there is a good chance that you can make a decent profit, but this is a trade only for people who have hair on their stomach . For all those who, more intelligently, prefer cautious operations, the advice is to stay out of the market for a while; in the event of an upward break of $ 11,000, a hypothesis that is still remote, we would have a good sign of purchase, if instead my reading of the market was correct and we found ourselves therefore in a tendentially bearish cycle what you have to do is wait for the price go back below $ 6000, at which point we should be able to understand more easily if the strength of the bears is going to run out or if instead those beasts will still have energy to push the price lower.

Please note: this post is not intended to provide any financial advice regarding how to invest your money, but is for educational purposes only