23/01/23 Weekly outlook
Last weeks high: $23381
Last weeks low: $21882.5
Midpoint: $20384
BTC continues in a strong bullish trend after concluding another week of upward movement.
Last week I stated that the 0.75 (~20.4k) line was a key area to look out for as if it were to be lost and confirmed as resistance, BTC would start to look bearish. However, this area was tagged (and a strong reaction off it enabled a strong rally thereafter.
Bitcoins pattern of strong rally's followed by a consolidation period of sideways movement has happened 4 times now this calendar year already, who knows if this pattern will continue.
My prediction would be to fill the FVG down towards 21.7k before any further continuation long
Last weeks low: $21882.5
Midpoint: $20384
BTC continues in a strong bullish trend after concluding another week of upward movement.
Last week I stated that the 0.75 (~20.4k) line was a key area to look out for as if it were to be lost and confirmed as resistance, BTC would start to look bearish. However, this area was tagged (and a strong reaction off it enabled a strong rally thereafter.
Bitcoins pattern of strong rally's followed by a consolidation period of sideways movement has happened 4 times now this calendar year already, who knows if this pattern will continue.
My prediction would be to fill the FVG down towards 21.7k before any further continuation long
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.