Quote from: dragonvslinux on November 19, 2020, 01:58:55 PM

For now bulls appear to be defending the mid-level, confirming the bullish momentum is still in tact. Bulls needs to break through the parallel channel in order to avoid a double top scenario, but so far so good. Three wicks have come down to test the mid-level (yellow dotted line), which indicates strong dip buying mentality is still in play.

On the 1hr time-frame, we managed to break-out of the bull flag / consolidation pattern making at new high above $18.7K. Obviously, this is still very bullish.

On the 4hr, price is currently testing the near complete parallel channel (re-drawn for accuracy). With three touch-points on support, price will need to avoid rejection at current level to confirm a third resistance touch-point. The mid-level currently remains relevant but imperfect, but staying within this channel (currently around $16.6K), price will however remain bullish.

Everything else says bullish, until proven otherwise. The only exception is the Hash Ribbons indicator, but still can be overlooked as the miner "capitulation" that begun at the end of October didn't follow suit with a correction or consolidation of price, as has been the case in previous corrections in hash rate.