BTC/USDT weekly analysis in 5th/Feb/2022

[forex4you]

BTC/USDT weekly analysis in 5th/Feb/2022

BTC/USDT weekly analysis in 5th/Feb/2022

Bitcoin / TetherUS BINANCE:BTCUSDT

Bot_Muto

Hi, crypto traders.

Once the price reached 20MA, but it bounced and broke 5MA to the lower side.
After that, it bounced from 36,250USD, then broke 5MA and 20MA together to the upper side.

Now the sequential order is as follows.
100MA (black) > 60MA (green) > the candle > 5MA (red) > 20MA (blue).

It seems the long downtrend was finished and we can see the next target 60MA and 44,500USD.
However, if the candle breaks 5MA and 20MA to the lower side again, the trend changes to the downtrend easily.

Target points next week are as follows.

==Target Points==
◇BTC goes up:
- 1st target: 44,000-44,500USD (Cross-point with 60MA, the highest price in 13th/Jan/2022)
- 2nd target: 50,000USD (Cross-point with 100MA, a nice round number)
- 3rd target: 52,000USD (The highest price in 27th/Dec/2021)

◇BTC goes down:
- 1st target: 40 ,000-41,000USD (Cross-point with 5MA)
- 2nd target: 38,000-39,000USD (Cross-point with 20MA)
- 3rd target: 32,900USD (The lowest price in 24th/Jan/2022)

Enjoy your trading.

Source: BTC/USDT weekly analysis in 5th/Feb/2022