So, Bitcoin had a hopium pump to around $45,000 only to dump back to $38,000 after the pump. While bitcoin was unable to Breakout of $45,000 resistance. Let’s Analyse Bitcoin Price for the upcoming weeks.
Bitcoin weekly close will be in less than 5 hours and 30 minutes and the weekly bitcoin candle looks super nasty and Bearish which is unfortunate. If Bitcoin Closes this candle as shown below in the chart that would mean the local top is in. Ofcourse Bitcoin is very much unpredictable But here’s our analysis of Bitcoin :
Bitcoin – Weekly Close – BEARISH
Well, look at that Candle – it’s similar to the Candle at ATH as shown in the chart and this might go very bad in the upcoming week as if btc closed the candle like it.
A panic selling is expected with a drop to $33,500 levels if the bearish scenario plays out. Well, enough for the pessimistic approach, let’s look at Optimistic Approach
Bitcoin Next Week Price Movements- Optimistic Approach – Bullish Scenario
While looking at the weekly chart is hard to find the Bullish Scenario Pretty much but if we look at the 1D Chart, we can see a pretty bullish scenario for the next few weeks. Let’s look at the Chart
This can indeed happen as it’s not hopium and price is consolidating just before the breaking out to New ALL TIME HIGHS
While this analysis is from the twitter user named Captain Faibik as Shown Below and according to this bullish scenario Bitcoin is expected to perform very well in next few weeks
Conclusion
Well, it’s always better to look for the both Scenarios as shwon in this analysis, while we believe that either way traders should be prepared to benefit from either Scenarios. Bitcoin long term has never been so bullish than it is today. Next Weeks could be Super volatile, so Better Plan Accordingly
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