Bitcoin has been in downtrend from $69,000 to $33,000 in last 80 days.
Here's my take:
On the chart there is a breakout in the RSI, last time this happened was in July 2021 and BTC went from $32k to $69k.
MACD in 1 day chart is also green.
Global markets have recovered and DOW finished at a weekly high. This will give confidence to the market.
FED meeting announced interest rates will be left un change with a new roadmap coming in the March FOMC meeting.
Expect a recovery in global market in the coming weeks.
If USA market stable than BTC can have good recovery and February will be a green month
Here's my take:
On the chart there is a breakout in the RSI, last time this happened was in July 2021 and BTC went from $32k to $69k.
MACD in 1 day chart is also green.
Global markets have recovered and DOW finished at a weekly high. This will give confidence to the market.
FED meeting announced interest rates will be left un change with a new roadmap coming in the March FOMC meeting.
Expect a recovery in global market in the coming weeks.
If USA market stable than BTC can have good recovery and February will be a green month
Comment:
Please leave any questions or comments on my analysis:)