btcusd weekly

btcusd weekly

Hi Guys,

We’re charting this graph for this week’s BTC/USDT, on this graph, we use trendline , pitchfork , and MacD below.

On this graph, Bitcoin has a good start in 2020 as we reach and pump almost 2k from $6673.70 then pump up to $8462 and closed for support level of $8,000 and we’re in the stable price, but Bitcoin must reach and break the resistance level of $8.4 but this is not possible as we have a good news and for upcoming Chinese new year (Saturday, 25 January) and Bitcoin Halving for (MAY – https://www.bitcoinblockhalf.com/).

FYI check the MacD just a little bit more to reach the trendline and confirm bullish (With expecting a short pullback)

Verdict:

We open risk, Good buy at $8k to $7.8k (If break the good price for long term holders would be on the Rectangle graph $6.4k and $7.4k)

Stop loss at $7.4k

Target Price: $10344

Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)

Disclaimer: This is for educational purposes,it is not intended as a financial advice.

The analyst won’t be responsible for a loss of fund. Trader should be able to manage risk.

Published at Mon, 13 Jan 2020 14:37:08 +0000

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