BTC/USDT OUTLOOK FOR THE WEEK
Good day to all traders out there!
Here’s an example of an OKXIDEAS contest submission:
On the weekly outlook, BTC is forming higher lows, with mini consolidation on the daily timeframe’s resistance.
No fancy analysis for this. Using Price Action + Supply & Demand levels, these are the following options we would be anticipating price to move.
Possible move 1:
- Price rejects resistance (28500-29200) zone and retrace down to (1) 24200 or (2) 21800.
- Price bounces of either of the levels and heads into the Weekly Fibonacci Zone (31870 - 35741)
This entire move should take about more than a week.
Possible move 2:
- Price breaks resistance (28500-29200) zone and heads straight into the Weekly Fibonacci Zone (31870 - 35741)
In the Fibonacci Zone
- We are expecting price to continue it’s upward trend to retest 48270, completing the “cup pattern”
Here’s an example of an OKXIDEAS contest submission:
On the weekly outlook, BTC is forming higher lows, with mini consolidation on the daily timeframe’s resistance.
No fancy analysis for this. Using Price Action + Supply & Demand levels, these are the following options we would be anticipating price to move.
Possible move 1:
- Price rejects resistance (28500-29200) zone and retrace down to (1) 24200 or (2) 21800.
- Price bounces of either of the levels and heads into the Weekly Fibonacci Zone (31870 - 35741)
This entire move should take about more than a week.
Possible move 2:
- Price breaks resistance (28500-29200) zone and heads straight into the Weekly Fibonacci Zone (31870 - 35741)
In the Fibonacci Zone
- We are expecting price to continue it’s upward trend to retest 48270, completing the “cup pattern”
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