Is the uptrend going to continue?
Aktualisiert
As I mentioned in the previous Weekly Review post, Bitcoin set a low at above 37.3k$ and then closed an hourly candle at 40.7k$ this Monday, that got sold out immediately. After that we started rallying and consolidating the level that we rejected not much before. Then we started an uptrend that brought BTC to 42.4k$.
What I think for the upcoming week is that it should continue this trend towards the 45k$ high, which has to be broken for a further continuation. I really like the trend that we're seeing because, unlike last few times, we are really seeing those impulses and retraces. It makes me feel that we could see price hovering above 40k$ for a good time.
Lastly, if even this time the history repeats and Bitcoin is unable to keep setting higher highs, I'd expect a smoother downtrend as well, with a target above 39k$. It's always good to have another opportunity to accumulate. I hope once again you like my content!
What I think for the upcoming week is that it should continue this trend towards the 45k$ high, which has to be broken for a further continuation. I really like the trend that we're seeing because, unlike last few times, we are really seeing those impulses and retraces. It makes me feel that we could see price hovering above 40k$ for a good time.
Lastly, if even this time the history repeats and Bitcoin is unable to keep setting higher highs, I'd expect a smoother downtrend as well, with a target above 39k$. It's always good to have another opportunity to accumulate. I hope once again you like my content!
Anmerkung
Again, nailed it
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