Many Things to notice in BTC for coming week as there is gonna be FOMC Statement and Fed Funds Rates market will be volatile
Things to consider before taking a trade in BTC
- RSI is in uptrend since 18th June in 1D Timeframe
- BTC is being consolidating within a range as shown
- Formed a Double Bottom but didn't made a breakout as expected
- In 4H Timeframe Volume is being decreasing
- MACD is showing a Double Bottom
Also in USDT dominance
Forming a downtrend in RSI with LL LH
IF it break down more till 5.85%, we might see a rally in BTC in between the 100 and 200 EMA
Conclusion
If the Breakout Fails in BTC the next probable support seems to be 17000-16000 zone which was the 2018 ATH