Bitcoin: The Daily Close Below $40k.

23 Jan 2024

BTC's daily close was at $39.5k, which is not a good sign, to be honest. BTC was expected to hold this level to remain bullish, but the weekly chart tells a different story. Now, the next move is anticipated to be a further drop toward the $37k level. How I wish BTC could turn this daily close into a fakedown and bounce back to $44k, LOL!

Our strategy remains the same: stay in USDT, consider every dip as a buying opportunity, and avoid leverage trades.

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Regards,
Team Dexter.

25 Jan 2024

Nota

#BTC has made another daily close in the green, which is above $40k, but the chart looks similar when comparing it with the previous moves (the yellow boxes). The only difference we can notice is the 3rd candle close. In the previous two boxes, the 3rd candle closed in red, but in the recent move, the 3rd candle closed in green. Can this reverse the pattern, or will it drop down to -6% ($37k)?

For two reasons, we might see a rejection:
1. BTC might follow the previous move as shown in the chart.
2. The $40k range resistance. BTC is still below the $40k range.

Clarification: If today's candle closes in red, we may assume the next candle will make a bearish move. But if it closes in green again, a 41K range is expected.

Not financial advice.