BTC/USDT Outlook: What This Week Might Bring
In my previous two weekly timeframe analyses, I expected a red candle close around 58K and a green candle last week breaking above the critical resistance level at $60,000-$62,000. We saw exactly that play out! Now, where do I see BTC/USDT price action going this week?
We're very close to the monthly candle close, so expect some volatility. As long as we stay above $60,000, the outlook remains very bullish. I'm expecting a retest of the dynamic structure on the weekly timeframe, with a possible continuation to the upside, testing the high of the downward channel around $67,000. However, we must keep in mind that September has historically been the worst month for Bitcoin, and depending on how the monthly candle closes, we might need to reassess our view. I'm still holding the trade we took last week.
PREVIOUS ANALYSIS :
https://www.tradingview.com/chart/BTCUSDT/wr9aHxWc-BTC-USDT-Updated-Market-Outlook-for-This-Week-What-to-Expect/
We're very close to the monthly candle close, so expect some volatility. As long as we stay above $60,000, the outlook remains very bullish. I'm expecting a retest of the dynamic structure on the weekly timeframe, with a possible continuation to the upside, testing the high of the downward channel around $67,000. However, we must keep in mind that September has historically been the worst month for Bitcoin, and depending on how the monthly candle closes, we might need to reassess our view. I'm still holding the trade we took last week.
PREVIOUS ANALYSIS :
https://www.tradingview.com/chart/BTCUSDT/wr9aHxWc-BTC-USDT-Updated-Market-Outlook-for-This-Week-What-to-Expect/
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join my VIP group: t.me/CryptoOverseerX Special price for the first 10 members. Money-back guarantee if no profit in 3 months! For more, visit overseer-x.com/. Free group: t.me/CryptoOverseerXFree
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.