BITCOIN analysis 16/01/2023

  • BTC after exiting the 17000 sideway zone suddenly rose sharply to the 21000 area without a rebound.
  • BTC is in the Supply Zone 21000, if today in the H4 timeframe there is not any bearish reversal candlestick appearing, the probability that D1 today will continue to increase is very high and will soon move to the upper Supply Zone of 22000 => We’ll see how the market gives signals.
  • What we should note now is that if the BTC rally sharply breaks out of the 25000 zone completely (the January candlestick closes above this level), then the long-term downtrend throughout 2022 has temporarily ended => There will be 1 strong rally in the near future.
  • Today’s Trade futures can wait for market signals in 2 directions:

+ Direction 1: Wait for BTC to test the hybrid around 20000 if there is a reversal signal, then open a Buy order with targets towards 21000 and 22000.

+ Direction 2: Wait for the reversal signal to appear in the H4 timeframe around 21000, if there is a bearish signal, you can enter a Sell order with the target towards 20000.


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