KayodeOla

#BTC Price Action 📈 — Monday Technical Analysis.

Referring back to my last technical analysis on Bitcoin, we haven't seen much significant movement yet.

Bitcoin is yet to break the $64k–$66k zone. Instead, the market has been using it as resistance, which shows the strength of this zone.

But what about the support?

In as much as there are different levels of support for Bitcoin right now, they all seem weak until we get to the $60k–$58k zone, which is currently the only major support zone that looks strong enough.

In a nutshell...

If you are looking for an A setup on Bitcoin, watch out for these zones:

$66k–$67k ===> New resistance zone for a potential short.

$60k–$58k ===> A better and more reasonable support zone for a potential long.

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— Kayode Ola

#BTC Price Action 📈 — Monday Technical Analysis

Bitcoin has been moving almost exactly as predicted over the past couple of weeks.

From my last update, I talked about the $62k zone being a weak support. We eventually saw the market break below it and dump to the $57k zone.

No long story, what do I think about the current market? ❓

Big NOTE: We are still bearish.

However, that doesn't mean we won't see a relief bounce.

I am currently expecting a push towards the $64k–$66k zone before another move to the downside.

If the market can break above the $66k zone and hold $67k as the new support, then I'll be back with another update on what I think comes next.

But for now, here's what I'm watching:

====> $64k–$66k acting as the current resistance zone for this cycle to determine whether we'll have a CHOCH or not. This is also the zone where I'll be looking for a short opportunity.

If you've been finding these weekly analyses helpful, make sure to like and share 🤝

— Kayode Ola

One of the biggest advantages of crypto? The market never closes.

No waiting for Monday.
No waiting for market open.

You can make money anytime as long as your setup aligns with your strategy. The market is open 24/7.

That's freedom.

#BTC Price Action 📈 — Monday Technical Analysis

$BTC has finally broken below the $79k support zone.

We are about to have an interesting week ahead, as BTC has now broken the $79k support and is currently using it as a new resistance zone.

What am I looking at?

I’m currently looking at a bearish move towards the $75,700 region, which is the next major support zone. This means we could see continued bearish pressure towards that price area.

===> $78k–$79k now acting as the new resistance zone
===> $75k–$76k as the next support zone the market could approach

Once the market gets to these levels, we’ll then have a clearer idea of the next possible move.

If you found this weekly analysis helpful, make sure to like and share 🤝

— Kayode Ola

#BTC Price Action 📈 - Monday Technical Analysis

$BTC analysis from last week hasn’t changed much.

We saw Bitcoin ranging between $78k - $82k throughout last week.

This signifies one thing: the bulls are still in control. That’s why BTC held the $78-79k support level. This sentiment made some ALTCOINS make a strong move last week.

So what are we expecting from Bitcoin this week?

The key levels remain the same:

===> $78-79k as the next key support zone
===> $84k as the weak resistance zone the market is likely to approach.

In summary - If Bitcoin holds this level, we might see more bullish momentum in altcoins this week. That means the bulls are still in control of the market until BTC breaks and closes below the $78-79k support zone on the D1 timeframe.

If you found this weekly analysis helpful, make sure to like and share.

— Kayode Ola