Bitcoin Short Term Prediction 02/01/22

1 févr. 2022

Looking at the daily chart, the BTC price has been recovering since dipping over 50%, to a price of 33K last Monday.
However, Bitcoin is still beneath two critical resistance areas right now. First is the yellow downward trend-line pushing the price down each time BTC attempted to break above it, and the second zone is the range marked in red between 39K and 41K.
Based off descending wedge pattern, from TA stand point, it is safe to assume that there is a higher possibility of breakout at 39k, however it's still too early to tell.
On the other hand, the daily RSI has broken out of the multi-month low downward resistance. The two previous breakouts had led to huge bullish moves over the past year.
In conclusion, the two likely scenarios are :
‌ Breaking above the descending wedge (around the 40K zone), consolidate above the zone for a while, generate a pullback to the resistance, and begin a price rally into the $50-60K channel.

Getting rejected by both the trend-line and the horizontal resistance area, forming a new lower-high to confirm the bearish trend towards 30-33k near the lower end of wedge pattern.

4 févr. 2022

Trade fermée: cible de profit atteinte

BTC woke up this morning following NFP news, broke 39k as predicted and headed towards 43k resistance. BTC moving above 100 EMA would mean path towards recovery.