Bitcoin(BTC/USD) Daily Chart Analysis For Week of Dec 8, 2023
Technical Analysis and Outlook:
Bitcoin has completed our three consecutive Outer Coin Rallies 39200, 41200, and 43700 in this week's trading. On the downside, the intermediate down target is Mean Sup 43100. The subsequent squeeze will likely be Mean Sup 41500.
The upside price movement is expected to be aggressive and intense, as the market sentiment is tilted towards bullishness. The market participants will likely be actively buying, leading to a surge in demand for the asset pushing the price higher. However, it is essential to note that the market is volatile and subject to sudden changes, so investors should remain cautious and closely monitor the support and rally outcome price targets.
Bitcoin has completed our three consecutive Outer Coin Rallies 39200, 41200, and 43700 in this week's trading. On the downside, the intermediate down target is Mean Sup 43100. The subsequent squeeze will likely be Mean Sup 41500.
The upside price movement is expected to be aggressive and intense, as the market sentiment is tilted towards bullishness. The market participants will likely be actively buying, leading to a surge in demand for the asset pushing the price higher. However, it is essential to note that the market is volatile and subject to sudden changes, so investors should remain cautious and closely monitor the support and rally outcome price targets.
