BTC/USDT Market Outlook for This Week: What to Expect
In my previous weekly timeframe analysis, I expected the price action to create a wick around $54,000-$56,000 before closing around $58,000 to end the week. And that is exactly what happened.
Now that we have a new weekly candle, what should we expect for this week? I’m expecting the price action to at least touch the 40-EMA on the weekly timeframe (currently sitting at $56,264) before creating a rejection and pushing the price to possibly break $60,000-$62,000, which is currently acting as crucial resistance. Hopefully, we’ll see BTC retesting the high of the downward channel this week (around $67,000).
I’m looking for opportunities to enter the market this week. Stay tuned.
PREVIOUS ANALYSIS :
https://www.tradingview.com/chart/BTCUSDT/wr9aHxWc-BTC-USDT-Updated-Market-Outlook-for-This-Week-What-to-Expect/
Now that we have a new weekly candle, what should we expect for this week? I’m expecting the price action to at least touch the 40-EMA on the weekly timeframe (currently sitting at $56,264) before creating a rejection and pushing the price to possibly break $60,000-$62,000, which is currently acting as crucial resistance. Hopefully, we’ll see BTC retesting the high of the downward channel this week (around $67,000).
I’m looking for opportunities to enter the market this week. Stay tuned.
PREVIOUS ANALYSIS :
https://www.tradingview.com/chart/BTCUSDT/wr9aHxWc-BTC-USDT-Updated-Market-Outlook-for-This-Week-What-to-Expect/
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