16/01/23 Weekly outlook
Last weeks high: $21568
Last weeks low: $17132
Midpoint: $19350
What a week for BTC and crypto in general. After finally breaking the 17k level a complete surge up to 21.5k. However, acceptance above this level is key to the bullish narrative continuing. The market still seems adamant on one last further pullback to new lows, with the macro environment considered and the lack of new money inflowing I don't think BTC is out of the woods just yet.
This week I'm keeping a very close eye on the 0.75 line, if price was to fall under -> retest as resistance -> confirmed as resistance then a lot of this prior move could unravel.
Last weeks low: $17132
Midpoint: $19350
What a week for BTC and crypto in general. After finally breaking the 17k level a complete surge up to 21.5k. However, acceptance above this level is key to the bullish narrative continuing. The market still seems adamant on one last further pullback to new lows, with the macro environment considered and the lack of new money inflowing I don't think BTC is out of the woods just yet.
This week I'm keeping a very close eye on the 0.75 line, if price was to fall under -> retest as resistance -> confirmed as resistance then a lot of this prior move could unravel.
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