We can still make it to the top so today i decided to look at Bitcoin chart and see what is really happening base on the current wave of some crypto news.
Though for the past few weeks we have seen some countries dropping some exchanges like USA and Nigeria SEC coming out with their memo, Nigeria SEC warning the users to trade on binance at their own risk because binance is not regulated in Nigeria. that's not the case i still think Bitcoin is just doing price action at the moment.
Before we i show you guys my chart let's look at the Bitcoin cot report that was released on 6th of June 2023 that's how i get my fundamental view of the market.
Base on the Chicago cot report we can see that is still a battle between the buyers and the sellers here you can see non commercials having 10,106 position of buying orders and 9,337 of selling orders though the buyers are much but just little bit different on Tuesday new cot report will be released. Let's look at Bitcoin technically paired with USDT and see what price action is really showing us.
*BTCUSDT CHART 📉📈*
The first image is the weekly chart on the weekly chart you can see how btc is moving up gradually is taking is time, while the daily timeframe looks like is selling down So ideally/ technically we are bullish on the btc for the long run while bearish for the couple of days so my overall target i think we can get to before spiking up again is around 22k to 25k that zone is regid enough to become our demand zone i will be buying personally from there. 😘
DISCLAIMER
THIS IS NOT A FINANCIAL ADVISE ALWAYS MAKE YOUR PERSONAL RESEARCH BEFORE INVESTING MY CHARTS AND ANALYSIS IS NOT FOR SIGNAL PURPOSE BUT JUST FOR LEARNING PURPOSE.
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