BTC Macro Analysis using Fibonacci and Trend Channel

2022年2月28日

A macro scale analysis on BTCUSD for weekly time frame to see where we are headed in the Long/Short Term. We see that BTC is taking support at 50% fib level on Monthly as well as weekly time frame. Additionally it seems like we also have other fib levels supporting the price to go in the upside direction.
Other than that, we also have a Parallel Trend Channel supporting the claim of market going up. Thus, we can conclude that BTC on a weekly time frame is going to move upwards.

Let me know what you guys think about BTC for the next few weeks.
Should we be expecting BTC to follow FUD over Russian attack on Ukraine or should we simply be following Price Action on BTC and be as level headed as possible.

Let me know in comments. Have a nice day and take care!

Disclaimer: We take no responsibility for your profits/losses as its just a general idea for discussion. We are not forcing anyone to follow our calls and we do not charge anyone for our analysis. Please take all trading decisions after carrying out your own analysis.