30.12.201913:58 Forex Analysis & Reviews: Bitcoin to end the year the opposite way it started it.

Long-term review

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Despite a strong first half of 2019, BTCUSD had a disappointing second half of the year. Price peaked in June just below $14,000 and is now trading nearly 50% lower. However not all are lost for bulls as price is holding above major Fibonacci support and reversal area.

Red lines - wedge pattern

BTCUSD is still in bearish trend inside the downward sloping wedge pattern. Price is still trading around the 61.8% Fibonacci retracement of the entire leg higher that started back in September of 2018. BTCUSD so far has shown no reversal sign. Price could easily fall towards $5,000 if price gets rejected at the upper wedge boundary. The 61.8% Fibonacci retracement is a Fibonacci level that we usually witness trend reversals. Will the same happen in BTCUSD?Will we see another strong 1st semester? Bulls must recapture $7,900 first and then $10,000 in order to regain control of the trend.

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