Over the last 3days, price levels have pulled back from the height of the most recent run-up from $3100 to $4100 throughout the beginning of December.
You can see the moving averages on my technical analysis have all crossed down the potential bear flag highlighted by the purple box paint a bearish picture as we lead into the new year of 2019.
Key support areas that I'll be watching closely at for a bounce: $3330, $3000, and $2780.
POC (Point of Control) is currently at $3940.
If price breaks through POC we could see a short squeeze that could create new monthly highs.
I recommend using the support and resistance/fib levels on my chart to your advantage.
You can see the moving averages on my technical analysis have all crossed down the potential bear flag highlighted by the purple box paint a bearish picture as we lead into the new year of 2019.
Key support areas that I'll be watching closely at for a bounce: $3330, $3000, and $2780.
POC (Point of Control) is currently at $3940.
If price breaks through POC we could see a short squeeze that could create new monthly highs.
I recommend using the support and resistance/fib levels on my chart to your advantage.