BitcoinLong
BTC About to move! Tight consolidation for weekly close
BTC is about to make a move on declining volume. on a break up, I am still looking for 22k(Primary view). Ona break down, I will be looking for 19.6k. As long as we close the week over 19.6k, I will become bullish to 24k-25k. Possibly even 30k but I will play it one level at a time. If we break down and close below 19.3k, I will become extremely bearish and start looking for 8k-10k again in the mid term. The stock market has been looking bullish lately which makes me bullish on BTC. Earnings are this week so we may hit some turbulence if they are poor. I think they will have neutral/bearish results which will take us sideways mostly. THis should still allow BTC to keep breathing from where it is. In general, for the year, I am still expecting some rough price action on both markets due to a cold winter to strain our energy resources AND for the Ukraine and Russia war to really escalate. THis year will be their full show of force for both sides. What we have seen is nothing yet.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.