In these blog articles i will try to give a read about crypto markets that I consider the most important or the best opportunities.
In these analysis I will just consider charts, being aside from geopolitical tensions, fundamental news and rumors. And I can only begin
with the Mother of All Cryptocurrencies.
Looking at Daily chart, BTC seems to be in a consolidation phase since the first days of january, but the timeframe that gives me more information is the 4h in this case.
After hitting the ATH. BTC entered in a descending parallel channel (the red one) and remained inside it 90% of the time. I can see another parallel channel starting from the huge drop happened the 3rd of december: this is more "forced", due to the fact that it's wider, the price remained less time and broke several times to the upside,
but it still has value to me. Red channel was finally broke upside the 4th of february, and the 11th of march, fast moving average crossed over the slow one: last cross happenend the 21st of december.
Price seems currently testing a zone which was created 9th of march, with a powerful pump & dump that smell like a V manipulation.
If we look even more inside, H1 says to us that price is not touching tops and bottoms since 2 weeks: it is ranged from 42.5k to 37.5k, more or less. I'm not expecting this phase to take long.
At the time of this article is being written, BTC is down by 2.15%, but unless of shocking surprise, it's going to close the week in green, starting from 37600$. I will not be surprised if we will see a return in the 39000$ area, but my view is positive overall. And what do you think BTC will do next week?
