BTC/USD Idea - 25 November 2023
Hi everyone,
As you can see from this monthly chart, BTCUSD has been on an uptrend since the beginning of January 2023, forming a series of bullish candlesticks, consolidating between around 37,700K and 25K from April to mid of the year.
In general, I don't expect a direct rise in BTC/USD as I anticipate a drop to levels seen at the beginning of the year (around 13-15K).
Personally, I believe BTC will experience growth, but not directly and significantly. Currently, if the monthly bullish candlestick closes within the shaded monthly area, then I believe BTC could rise to the range of 43K to 46K to reach the resistance but afterwards, I foresee a drop to 13-15K.
Once the price reaches these levels and establishes some "history," I expect a strong uptrend in BTC from these zones.
As you can see from this monthly chart, BTCUSD has been on an uptrend since the beginning of January 2023, forming a series of bullish candlesticks, consolidating between around 37,700K and 25K from April to mid of the year.
In general, I don't expect a direct rise in BTC/USD as I anticipate a drop to levels seen at the beginning of the year (around 13-15K).
Personally, I believe BTC will experience growth, but not directly and significantly. Currently, if the monthly bullish candlestick closes within the shaded monthly area, then I believe BTC could rise to the range of 43K to 46K to reach the resistance but afterwards, I foresee a drop to 13-15K.
Once the price reaches these levels and establishes some "history," I expect a strong uptrend in BTC from these zones.
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