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ProR35
Jan 23, 2023 11:11 AM

23/01/23 Weekly outlook 

BTCUSDT Perpetual ContractBybit

Description

Last weeks high: $23381
Last weeks low: $21882.5
Midpoint: $20384

BTC continues in a strong bullish trend after concluding another week of upward movement.

Last week I stated that the 0.75 (~20.4k) line was a key area to look out for as if it were to be lost and confirmed as resistance, BTC would start to look bearish. However, this area was tagged (and a strong reaction off it enabled a strong rally thereafter.

Bitcoins pattern of strong rally's followed by a consolidation period of sideways movement has happened 4 times now this calendar year already, who knows if this pattern will continue.

My prediction would be to fill the FVG down towards 21.7k before any further continuation long
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