On December 20, Bitcoin again exceeded $43,000 and remains close to this price. The team's latest Cryptoies review outlined how the first cryptocurrency could end the final week of December.
Bitcoin
In a week, three candles will close at once - annual, quarterly and monthly. This shows how important this period is.
We expect quotes to remain unchanged or continue to rise until the first half of January. At the same time, the date range can vary up to January 7-15, so the main thing for us is to see the closing plus/minus in the current situation. It is important not to roll back lower and not to close with a weak candle in the first problem zone of the month.
We saw the engulfing of the last week's candle where price likely continued to enter into the distribution that had been gained in past quarters. Therefore, on the weekly timeframe we will see either a slowdown in quotes and their fall, or an increase followed by a fall.
Let’s say right away that we are not ready to consider the first setup, which has been flashing on the daily timeframe for the third week.
Rather, we are preparing for the second outcome of events, since the time period with the distribution of altcoins, dominance, TOTAL is not yet ready to fall due to the fact that we are trading near an important level. The main thing is to see as long a consolidation as possible before the fall. At the same time, we want to see it as long and as high as possible.
Let us clarify that this setup is only a visualization of how we would like to see the fall, but not the exact levels where the price will begin to reverse.
Dogecoin (DOGE) and Qtum (QTUM) quotes
All altcoins that have not fulfilled their targets are still in the “waiting” phase, including Dogecoin and Qtum.
