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KIKOFXMASTER
Nov 25, 2023 5:51 PM

BTC/USD Idea - 25 November 2023  

Bitcoin / U.S. dollarBitstamp

Description

Hi everyone,

As you can see from this monthly chart, BTCUSD has been on an uptrend since the beginning of January 2023, forming a series of bullish candlesticks, consolidating between around 37,700K and 25K from April to mid of the year.

In general, I don't expect a direct rise in BTC/USD as I anticipate a drop to levels seen at the beginning of the year (around 13-15K).

Personally, I believe BTC will experience growth, but not directly and significantly. Currently, if the monthly bullish candlestick closes within the shaded monthly area, then I believe BTC could rise to the range of 43K to 46K to reach the resistance but afterwards, I foresee a drop to 13-15K.

Once the price reaches these levels and establishes some "history," I expect a strong uptrend in BTC from these zones.
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kevinramige
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