Week 5 BTC Bitcoin Analysis

by Jan 30, 2023Bitcoin Weekly Analysis, Weekly Analysis0 comments

let’s start week 5 BTC Bitcoin analysis. In terms of economic data, the coming week is one of the busiest. This week also includes the British interest rate meeting and Mr. Powell’s conference, both of which potentially influence the direction of the crypto market.

BTCUSDT Chart
BTCUSDT Chart

However, from a technical standpoint and based on Onchain data, our week 5 BTC Bitcoin analysis is the same as last week’s, and we predict BTC to correct to $20,000. Last week’s divergences in the Bitcoin RSI indicator are still present. Because these zones are so risky for Bitcoin, the market maker opted to stophunt in order to liquidate the short positions.

USDT.D Chart
USDT.D Chart

As a result, while taking short trades, make sure to set a loss limit.

See also  Week 9 BTC Bitcoin Analysis

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Related Post

Week 13 Altcoins Analysis

Week 13 Altcoins Analysis

by | Mar 28, 2023

Although Bitcoin increased in value during the last week, in Week 13 Altcoins Analysis altcoins regularly did not, and this was also because of the rise of BTC.D. However, given that BTC.D should correct by up to 42%, altcoins will perform well pumps if Bitcoin...

Week 13 BTC Bitcoin Analysis

Week 13 BTC Bitcoin Analysis

by | Mar 28, 2023

Last week, Bitcoin's boring downtrend continued. On Week 13 BTC Bitcoin Analysis, the market is taking more risks due to the Federal Reserve's 0.25 increase. On the other hand, the market is avoiding risk because of fundamental problems like the FEC lawsuit against...

Week 11 Altcoins Analysis

Week 11 Altcoins Analysis

by | Mar 13, 2023

According to Bitcoin's movement, in Week 11 Altcoins Analysis, altcoins will briefly rise to the Fibonacci area of 0.236 for the correction of the return wave before the slide resumes. Which altcoins will have a stronger association with Bitcoin? It depends on the...