Bitcoin's next weekly candlesteemCreated with Sketch.

in #bitcoin8 months ago

The weekly bar of Bitcoin will be closed in 7 hours from now, the last two candles are slightly bearish like a pause for previous strong bull bars.

for predicting the next weekly candle, I prefer to go to 4h chart: Based on the current price of Bitcoin and the technical analysis of the 4-hour chart, it is possible that Bitcoin could reach a price of $38,830 within the end of next week. This is a conservative estimate, as the price of Bitcoin could also go higher or lower depending on a number of factors, including:

Global economic conditions: If the global economy continues to improve, this could boost the price of Bitcoin as investors seek out riskier assets.
Regulatory developments: If there are any positive regulatory developments, such as the approval of a spot Bitcoin ETF, this could also drive up the price of Bitcoin.
News events: If there are any major news events that impact the cryptocurrency market, this could also cause the price of Bitcoin to fluctuate.

BTCUSDT_2023-11-26_20-15-29.png

I believe in the coming weeks, BTC should retrace some of its gains for a more strong bull run toward the weekly supply: $44.2K - $48.1K

It is important to note that these are just predictions, and the actual price of Bitcoin could be different. Investors should always do their own research before making any investment decisions.

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