BITCOIN (BTCUSD): Detailed Technical Outlook: ₿

18. Jan. 2023

Bitcoin is unstoppable.
The market gained almost 30% from the beginning of the year.

Now the market is stuck on a key daily structure resistance.
Analyzing a 4H time frame, I spotted a horizontal trading range.
Depending on the reaction of the price to its boundaries, I see 2 potential scenarios:

Bullish scenario:
If the price breaks and closes above 21300 - 21500 area on a daily,
I will expect a bullish trend continuation at least to 22400

Bearish scenario
If the market violates 20200 - 20700 area and closes below that on a 4H,
a bearish movement will be expected at least to 19100

Patiently wait for a breakout, that will be our trigger!

What do you personally expect?

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