This is my approximate bitcoin forecast for Christmas time. It is based on chanels and barrier levels (supports and resistances).
Short term it will finish the current thin channel upwards, at about 450 or few more before mid december. Then it should correct the last rise to touch the base of the next greater channel. It could be between 400 and the current price, 416. Before crossing this channel down it will develop a last try upwards, higher than the previous one but not much more. A good level for it would be about 460.
That point would be dangerous, as it should be the start of a greater correction, just the week before Christmas time. So about Christmas night or before there would be a minimum, good opportunity to get a bull position, as the big trend continues to be bullish, at least until year end or a few days later, with probable levels greater than 600, maybe much more if the rally is strong. in which case the big channel could be crossed up to greater levels than 2 years ago, over 2000.
Short term it will finish the current thin channel upwards, at about 450 or few more before mid december. Then it should correct the last rise to touch the base of the next greater channel. It could be between 400 and the current price, 416. Before crossing this channel down it will develop a last try upwards, higher than the previous one but not much more. A good level for it would be about 460.
That point would be dangerous, as it should be the start of a greater correction, just the week before Christmas time. So about Christmas night or before there would be a minimum, good opportunity to get a bull position, as the big trend continues to be bullish, at least until year end or a few days later, with probable levels greater than 600, maybe much more if the rally is strong. in which case the big channel could be crossed up to greater levels than 2 years ago, over 2000.
