BITCOIN (BTC/USD) analysis 03/01/2022:
– Long-term: Observing the Monthly timeframe (MN), we see that the market is still very bad when we have just closed 1 bearish candlestick. The probability of a fall to 14000 is quite high if we break through the 16000 mark, we will observe the signal thanks to the weekly frame to see if the bears continue to break or not.
– Medium term: Observing the weekly frame, we can see that currently the majority of BTC is moving sideways (sideways) in the range as shown below and closing candles above 16k and below 17k. Wait and see which direction the market will break the box in the near future.
– Short-term: D1 yesterday after hitting the bumper pulled out a rather long beard. Today the market will rise slightly to 16700, after which there will be a bearish signal of the H1 frame pushing BTC to around 16520
*Command reference:
Sell: 16700
SL: 16770
TP: 16550
