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Week 6 BTC Bitcoin Analysis

by Feb 5, 2023Bitcoin Weekly Analysis, Weekly Analysis0 comments

As of the Week 6 BTC Bitcoin Analysis, Bitcoin currently ranges about $23,000, and the daily time frame divergence is becoming more pronounced daily. The market is still taking risks despite Mr. Powell‘s tone at the conference being contractionary and hawkish, and the US unemployment data were not regarded positively.

BTCUSDT Chart
BTCUSDT Chart

The likelihood of a market collapse and crash rises if this market trend persists, and negative news frequently triggers the decline in such situations. The more Bitcoin diverges in these areas, the heavier and sharper the slide will be.

Our Week 6 BTC Bitcoin Analysis is that Bitcoin will return to the range of at least $20,000

See also  Week 50 Altcoins Analysis

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