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Bitcoin (BTC) analysis and commentary next week

Continuing is a sideway weekly candle in doji form. Buyers tried to push the price up to test the supply zone of 30,000 - 32,000 USD but continued to fail. The sellers pushed the price down to retest the EMA 89 and the price also bounced up quickly, so it can be seen that BTC is going sideways.

In the 3D framework, you can see peak divergence when the price creates a new peak that is higher than the old peak, but RSI creates a new lower peak. We should not long at the current price but should wait for the price to adjust. This comment is similar to last week. In addition, the price is very likely to form a double top pattern, shorting or waiting for a correction to long support would be better than going long right now.

You can see that the 4H frame is simply a sideway. In theory, we can wait for the price to break the upper barrier and go long with the trend. However, because of the 3D frame divergence, I expect the price to adjust and we will have a better entry in the 25,000 area. Currently, I will limit transactions in this sideway area. Almost nothing will change in this week's plan compared to last week.

BTC.D

Similar to BTC, BTC.D is also sideways right below a strong resistance. We expect BTC.D to adjust in the near future to make it easier for Altcoin.