Thoughts on #BTC

In exactly one week, Bitcoin has gained 11%, this weekly rise is strong with a good trend. Now we are below the resistance at $58,650 (black line). Breaking it opens up two targets for us:

1. $60,880 (green)
2. $63,454 (blue)

The targets depend on the resistance breakout:

1. If we break through 58650$ after touching the tripod, we go to the 1st target

2. If we break through 58650$ without touching the trend, we go to the 2nd target

Now market players are focused on the news of next week and are waiting for information on the key rate. There are many forecasts, but most are quite optimistic and are waiting for the rate to be lowered. Even if this happens, no one has canceled the correction on good news, which happens quite often.

Anyway, these are short-term goals, because we are still in a bearish trend and it is too early to talk about a reversal to the bullish.
Therefore, there may be a scenario of leaving the trend and going down, so we open trades only after the resistance is broken.

Green portfolios to everyone 🐻

#Baluutrade #binance #Bitcoin