BTC Daily & Weekly Speculation (Best of Luck)
Looking at the weekly bitcoin outlook: It's been a blah week for "Bull" Enthusiasts. Not too much going on, however, there is always something going on. Here is where my mind is at currently.
As the bearish trend continues we will look at the “remainder” resistance zones. We are still clearly in a downward trend-
Logical Scenarios:
1. BTC bounces off of the 19.5k
2. BTC retests 17.5k- breaking the previous low— resulting in a fall to 12-13k.
Worst case scenario we could have a fall all the way down to the main weekly resistance in or around 5k. (Do Not See This Happening)
Bullish Weekly Trend: If we were to see a heavy insert of volume… here is a brief outlook if we were to breakout.
1. 25k will be the first target we try to eclipse. 25k will not bring much resistance and I suspect a climb to 28k, where we will likely consolidate.
We would need to break the 50 and 100 day EMA on the weekly to ascend quickly.
BB- Range 13k to 42k
Estimated Bullish Ranges: 35k, 42k, 48k, 70k
Daily BTC Outlook
BTC is looking to reverse the trend, we will aim to break the resistance, heavily sitting in and around 24k.
Very heavy levels of resistance will make it tough to break through this time around, however, if it does, 28k would be my next target.
(At this current moment: We are heading to test the 20/50 EMA where I believe we could, with increased volume hit 23k, being optimistic…
12-Hr Outlook: Bearish: Will likely retest 21k
I would like to clarify, my intentions are primary to tracking my personal trading history. If you are to get any insight on this, fantastic.
Nothing will ever be financial advice!
Please leave your comment below, as I really respect your views on anything chart related.
Peace
As the bearish trend continues we will look at the “remainder” resistance zones. We are still clearly in a downward trend-
Logical Scenarios:
1. BTC bounces off of the 19.5k
2. BTC retests 17.5k- breaking the previous low— resulting in a fall to 12-13k.
Worst case scenario we could have a fall all the way down to the main weekly resistance in or around 5k. (Do Not See This Happening)
Bullish Weekly Trend: If we were to see a heavy insert of volume… here is a brief outlook if we were to breakout.
1. 25k will be the first target we try to eclipse. 25k will not bring much resistance and I suspect a climb to 28k, where we will likely consolidate.
We would need to break the 50 and 100 day EMA on the weekly to ascend quickly.
BB- Range 13k to 42k
Estimated Bullish Ranges: 35k, 42k, 48k, 70k
Daily BTC Outlook
BTC is looking to reverse the trend, we will aim to break the resistance, heavily sitting in and around 24k.
Very heavy levels of resistance will make it tough to break through this time around, however, if it does, 28k would be my next target.
(At this current moment: We are heading to test the 20/50 EMA where I believe we could, with increased volume hit 23k, being optimistic…
12-Hr Outlook: Bearish: Will likely retest 21k
I would like to clarify, my intentions are primary to tracking my personal trading history. If you are to get any insight on this, fantastic.
Nothing will ever be financial advice!
Please leave your comment below, as I really respect your views on anything chart related.
Peace
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