BTC Weekly Update - We might see an impulse up soon

15 ส.ค. 2022

BTC has high correlation with S&P so we will analyze them both.

S&P
We approached huge trendline that is 220 days long. Usually the longer formation is, the better breakout will be. This is 3rd approach which is also a plus, but approach is too sharp. If we want to break through, we need to see more accumulation under trendline first

BTC
We are constantly updating high's which is a bullish sign. Soon we may se an impulse up if we don't breakdown support first. Potential for growth is 15%, it's the closest important level.


Important Economic Events ahead:
Wednesday:
US FOMC takeouts from meeting will be relased.
Thursday:
US Initial Jobless Claims


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P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones