Yesterday’s fully zoomed out view was more strategic. Today, let’s get tactical. Since I posted, Bitcoin has pushed itself up against the key resistance level for the correction and we need to know where it’s going.

We already know Bitcoin is at a historic crossroads. If not, see my most important update yesterday:

So let’s zoom in more with a more traditional chart and look at the key levels for the last year, and how they are coming to collide in the next few weeks. Today, Bitcoin is pushing up against the key resistance. It appears overextended and lacking volume , so a quick pull back to my marked decision zone is expected in the next few days. It is here where we will likely see the fate of Bitcoin for the next couple of months spelled out.

I see two reasonable possibilities:

• There’s enough hesitance that the market “crabs” sideways with very little price action on Bitcoin for several weeks. This would be a good period for altcoins.
• The collision of the key downtrend and the key annual price levels forces a market decision, likely to the downside.

With the second possibility, our previous analysis suggests a marked “deep value zone” for a market bottom, before the high for this cycle is sought in the next 18 months. Many factors point here, some covered in yesterday’s idea. Another is the coveted volume profile point of control being at $32K for the current 12 month period, so value is still only found below that on a cycle-level view.

I have also highlighted a pink trend which could be a wildcard false breakout trend that could push the decision out to as far as May, though I don’t expect it to come into play.

Where and when do you expect Bitcoin to find a bottom? Please share your thoughts in the comments below.

This is my first attempt at publishing a shorter term view for Bitcoin . If you like it let me know and I’ll be sure to share my ideas at the next key decision point I see. Be sure to check out my long term “roadmap” style ideas on Bitcoin as well.

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With that said, this is not investment advice. I am offering my ideas for educational purposes only. Enjoy and take care.