Logorithmic Monthly Chart for BTC/USDT

Jan 4, 2021

It's clear that we are within an uptrend channel since BTC listing.Each pullback in the previous bull runs has been roughly 30%. Now that bitcoin has seen a local top at 35k zone, the pullback i'm looking for is roughly 30%, which is the $23700 as support zone 1, which happens to be flush with the top of a weekly candle. Support zone 2 sits at $19700. You will also notice that in a bull trend the price trades above the Upper Bollinger band, and in a bear below the upper Bollinger band. We only broke the upper Bollinger band in November, so we have 2 official monthly candles above the Bollinger band, meaning that our bull run is only getting started. In both Bull markets, each December has been green followed by a red January; My buy back zones are $23700 and a smaller percentage at $19700, I place my buys slightly higher to beat the market.