Bitcoin Weekly Analysis: Key Levels and Scenarios (READ CAPTION)
Updated
By analyzing the Bitcoin chart on the weekly (logarithmic) timeframe, we see that recently Bitcoin corrected to $64,000. After that, BTC experienced renewed demand and is currently trading around $66,000. There are two potential scenarios for Bitcoin in my opinion:
• The price could start rising from this level, with the next targets being $72,000, $77,000, $85,000, and $100,000.
• The price could correct further to the $52,800 to $56,700 range before rallying again to above $70,000.
Which scenario do you think will happen first?
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
• The price could start rising from this level, with the next targets being $72,000, $77,000, $85,000, and $100,000.
• The price could correct further to the $52,800 to $56,700 range before rallying again to above $70,000.
Which scenario do you think will happen first?
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Note
By analyzing #Bitcoin on the weekly time frame, we can see that the price has started to decline again according to the second scenario and is now attempting to reach the demand zone of $52,800 to $56,700. Keep an eye on the price reaction to this level! We will likely see a strong move from BTC afterward. According to previous analyses, the mid-term targets for Bitcoin are $72,000, $77,000, $85,000, and $100,000.
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