Market Analysis: BTC Weekly and Daily Outlook
Since BTC has closed its weekly (W) candle—let’s call it a tentative success—we’ll follow up with a view to reflect the market’s intent for the upcoming week. Here’s the breakdown:
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Weekly Candle Perspective
Why isn’t BTC continuing to rise and instead dropping?
BTC has hit a peak on its most recent upward slope. The current process is about BTC forming a bottom on the weekly timeframe. If the structure for this bottoming process isn’t fully complete, it must finalize, which means BTC has to decline.
You can see two key price zones BTC will inevitably pass through:
Thus, BTC’s decline is a certainty—it’s already been hinted at before April, and as early as the start of April, I’ve detailed its bottoming roadmap in a few posts.
For now, we leave open the question of whether BTC, after forming this weekly bottom, will return to its previous all-time high (ATH). We’ll get confirmation by mid-April or when the monthly candle closes.
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Daily Candle (D1) Perspective
What will BTC do on D1 in the coming days (this week)?
There’s one critical task D1 needs to execute thoroughly: push the price to the 72k or 70k zone as soon as possible and close a strong, decisive candle there. If that happens, we’ll see the price drop into the lower 6X range. If the candle closes weakly or indecisively, we’ll only dip below 76k—under the previous bottom—and that’ll still count as D1 completing its mission. Here’s how we assess D1:
Conversely: If neither happens, consider taking profits on your swing short trades and waiting for the next signal, folks.
Summary
Enjoy the analysis.
Good luck!
Since BTC has closed its weekly (W) candle—let’s call it a tentative success—we’ll follow up with a view to reflect the market’s intent for the upcoming week. Here’s the breakdown:
-------------------------------------------------------------
Weekly Candle Perspective
Why isn’t BTC continuing to rise and instead dropping?
BTC has hit a peak on its most recent upward slope. The current process is about BTC forming a bottom on the weekly timeframe. If the structure for this bottoming process isn’t fully complete, it must finalize, which means BTC has to decline.
You can see two key price zones BTC will inevitably pass through:
- Zone 1: 72k–75k (pretty close already).
- Zone 2: 64k–68k (still about $10,000 away).
- Zone 3 (not yet visible, likely around May): 53,000 USD.
Thus, BTC’s decline is a certainty—it’s already been hinted at before April, and as early as the start of April, I’ve detailed its bottoming roadmap in a few posts.
For now, we leave open the question of whether BTC, after forming this weekly bottom, will return to its previous all-time high (ATH). We’ll get confirmation by mid-April or when the monthly candle closes.
---------------------------------------------------------------
Daily Candle (D1) Perspective
What will BTC do on D1 in the coming days (this week)?
There’s one critical task D1 needs to execute thoroughly: push the price to the 72k or 70k zone as soon as possible and close a strong, decisive candle there. If that happens, we’ll see the price drop into the lower 6X range. If the candle closes weakly or indecisively, we’ll only dip below 76k—under the previous bottom—and that’ll still count as D1 completing its mission. Here’s how we assess D1:
- Previous bottom: 76k. A D1 close below this level is a success.
- 70k–72k: A D1 close below this zone allows us to expect a drop to 68k or lower.
Conversely: If neither happens, consider taking profits on your swing short trades and waiting for the next signal, folks.
Summary
- Weekly (W) Frame: BTC is forming a bottom right now, and this process will determine whether it rises again or keeps falling. Watch the bottoming price zones closely.
- BTC W and ATH: Whether it retests ATH depends on how this bottoming phase plays out.
- D1 This Week: Hold your swing SHORT positions and prepare to take profits. Where to exit? Monitor the D1 candle closes.
Enjoy the analysis.
Good luck!
The RainBow MG3 Indicator identifies trends, reference prices, wave start times, and trend endpoints while sending alerts to your personal Telegram. Join the RainBow MG3 community on Telegram: t.me/rainbowmg3
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.
The RainBow MG3 Indicator identifies trends, reference prices, wave start times, and trend endpoints while sending alerts to your personal Telegram. Join the RainBow MG3 community on Telegram: t.me/rainbowmg3
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.