Before we talk about #bitcoin move i hope you know the uncertainty going around the world. And when the conditions are uncertain the charts usually helps you less.
So make sure you are not fully dependent on these and stay updated with the fundamentals.
Now lets dive into charts
BTCUSD (Weekly)
Not really a convincing weekly close as price took the high of that candle wick and closed below it. As long as price is below that key area we can't say the weekly chart is set to go up as we have a failed break. When market doesn't able to hold the break of one direction it usually head towards the opposite direction.
How will you know which way bitcoin will go ?
well it's always depends on the trend confirmation, just like you don't have a confirmation for the upside i don't see a confirmation for the downside as well
The low of the last week's candle $27160 ish is going to play an important role imo. No signs of bearishness yet as price is still trading above it but just in case it drops below last week low and holds below it, that will give you an early indication that the price is about to go lower.
BTCUSD (Daily)
Kind of the similar chart as weekly chart but with more candles. Notice how price is consolidating between the key high i marked and the low.
Long story short A daily candle close below $27000-27160 would mean we are going to see a move down ( Price should hold below it after that)
A daily close above $28150 would means we are going to see a continuation up.
In between you should ignore all the noise people are making about bullish or bearish.
This is it for this week's #BTC forecast, i hope you liked it i would love to hear your opinion aswell
