BTC weekly and daily outlook

Starting with the weekly we can see that the price has managed to pierce the Kumo cloud and is now retesting it with a low volume candle. The fact that we managed to pierce right through a moderately thick kumo on the down side would mean that we can do it on the upside aswell but for the time being this doesn’t seem to come even close to be true. We are at the end of the week and we basically lost our chance to engulf the previous candle.

The fact that we are shy on retesting the kumo could also mean further continuation to the downside.

The white trend line

There are two ways to drawing ascending or descending trendiness. And that is with wicks or without. Either way you trace this ascending trend line , the price action is still below it. This trend line was previously support and will act as a resistance in the future, probably in confluence with the 41.7k resistance level

Weekly sentiment is mildly bearish.


Daily outlook


The daily chart is looking slightly bullish, however the momentum simply isn’t there . On this chart we can also note the resistance levels along the way, the closest one being the descending trend line that is so visible even a non trader would see it.

Possible whale play would be to try to push the price above this trend line in a fake out , and taking all the liquidity left at the surrounding levels.


This market is tricky ill give you that, BTC is encountering inflation like never before and a lot of fundamental uncertainty.