I think within the next few days we will need to watch the fight between the 20 day moving average (purple line) and the S1 support level. There is more pressure to the downside than the upside and one of two things could occur.
If the S1 support and lower trend line fail, then we could see a downward move to the S2 support.
If we see price break through the resistance of the 20 day moving average, then it looks like $14,000 would be reached relatively easy.
If we reach the $14,000 mark, then it would be met with great resistance due to
The pivot point (P)
The Ichimoku cloud
50 day moving average
Upper trendline
These all seem to be intersecting around that $14,000 level.
I think within the next few days we will need to watch the fight between the 20 day moving average (purple line) and the S1 support level. There is more pressure to the downside than the upside and one of two things could occur.
If we reach the $14,000 mark, then it would be met with great resistance due to
These all seem to be intersecting around that $14,000 level.