BTC/USDT weekly analysis in 5th/Mar/2022
Hi, crypto traders.
Last week, the candle suddenly went up and broke 5MA, 20MA and 60MA to the upper side.
As I mentioned in the last article, it tried to break the highest price in 10th/Feb/2022: 45,800USD, but after reaching 45,400USD, it bounced and started to go down.
The price already broke 5MA, 20MA and 60MA to the lower side again.
Now the sequential order is as follows.
100MA (black) > 5MA (red) > 60MA (green) = 20MA (blue) > the candle.
Since MA lines are very close, it's difficult to predict the next move. But if 5MA breaks 20MA and 60MA to the lower side and the candle keeps under 5MA, the trend will be a strong downtrend again.
However, it's possible the candle breaks 5MA, 20MA and 60MA to the upper side again, therefore, we should watch the next move carefully.
Target points next week are as follows.
==Target Points==
◇BTC goes up:
– 1st target: 40,000-41,000USD (Cross-point with 5MA & 20MA & 60MA)
– 2nd target: 45,800USD (The highest price in 10th/Feb/2022)
– 3rd target: 50,000USD (A nice round number)
◇BTC goes down:
– 1st target: 34,300USD (The lowest price in 24th/Feb/2022)
– 2nd target: 32,900USD (The lowest price in 24th/Jan/2022)
– 3rd target: 30,000USD (A nice round number)
Enjoy your trading.
Last week, the candle suddenly went up and broke 5MA, 20MA and 60MA to the upper side.
As I mentioned in the last article, it tried to break the highest price in 10th/Feb/2022: 45,800USD, but after reaching 45,400USD, it bounced and started to go down.
The price already broke 5MA, 20MA and 60MA to the lower side again.
Now the sequential order is as follows.
100MA (black) > 5MA (red) > 60MA (green) = 20MA (blue) > the candle.
Since MA lines are very close, it's difficult to predict the next move. But if 5MA breaks 20MA and 60MA to the lower side and the candle keeps under 5MA, the trend will be a strong downtrend again.
However, it's possible the candle breaks 5MA, 20MA and 60MA to the upper side again, therefore, we should watch the next move carefully.
Target points next week are as follows.
==Target Points==
◇BTC goes up:
– 1st target: 40,000-41,000USD (Cross-point with 5MA & 20MA & 60MA)
– 2nd target: 45,800USD (The highest price in 10th/Feb/2022)
– 3rd target: 50,000USD (A nice round number)
◇BTC goes down:
– 1st target: 34,300USD (The lowest price in 24th/Feb/2022)
– 2nd target: 32,900USD (The lowest price in 24th/Jan/2022)
– 3rd target: 30,000USD (A nice round number)
Enjoy your trading.
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