Btc_usd
BTC highest weekly closeBTC / USDT
Highest weekly candle closure ever
The current candle closed above previous ATH
Which is Bullish thing
In weekly view bulls in control ...that doesn't mean we wont see shakeout from time to times ..as weekly candles take time to close
Summary :
Previous resistance between 60k-57k act as first support now
And Second support is trendline
Personally i dont think MM will give opportunity to buy at trendline as majority want
Always DYOR
Bitcoin strong support As you can see Bitcoin strong support at 4-hour chart we can expect further upward movement for the bitcoin, unless some other news which could have led the bitcoin towards some bearish movement hope for the best if it would remain we can see bitcoin to the 100,000 dollars soon those times are near.
Bitcoin might be volatile in the next 8-12 hoursBTC UPDATE
A few takes from this daily closure:
- Bulls are trying to build a new support at $64k area.
- Bears are waiting at $65k area to drop the price again.
- Strong breakout trendlines are there to hold the price where I expect more bulls to join in.
- Some ranging between $65k - $64k is expected for some time until we have a clear breakout either side.
- 4hr timeframe has second last candle as engulfing candle indicating that the bulls are there somewhere at around $62k.
My take:
I think after 8 - 12 hours we'll see some sort of movement and I'll wait patiently. Lows can be retested again and BTW I am not bearish at all!
$59.5 - $62 support is getting retested that's all what I see it as! Bitcoin is still in the price discovery mode!
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Bitcoin smashes through $69,000 US inflation hit 6.3% as Bitcoin crosses previous all-time high and begins price discovery.
Analysts argue that Bitcoin is likely to hit the end of year targets in the currency cycle as the Consumer Price Index rises.
Bitcoin is considered a hedge against inflation; therefore, a rise in inflation influences capital rotation in Bitcoin.
BTC TO 306,000 around 20th to 27th December.As we know BTC always moves in cycles, we've seen BTC in 2013 make about 1260% (ATH), and after 1470 days in 2017 again BTC made another (ATH) around 906%.
If my calculations are right this year, BTC will reach a minimum of around 300,000 to 350,000 (906%) from 20th to 27th of December which is 1470 days from the previous cycle.