BTCUSDT Chart Analysis
Data
The chart analysis was conducted using weekly charts of the BTCUSDT price from 2011 to the present.
Technical Analysis
A clear uptrend is visible on the weekly chart. The BTCUSDT price has risen in 2023. The resistance level of 32.000 was reached on Jul 2023, but not exceeded. Since then, the price has declined and has now stabilized in a sideways movement.
Big Cycle Analysis
A statistical analysis of BTCUSDT prices shows that there have been regular cycles in the past where the price has risen by 50% to 100%. These cycles typically lasted about 1.5 to 2 years.
The current uptrend began on Jan 2023, which is about 10 months ago. It is therefore possible that the BTCUSDT price will experience another rise in the next weeks.
Prediction
Based on the technical analysis and the cycle analysis, it is likely that the BTCUSDT price will continue to rise in the next weeks. The resistance level of 32.000 could be overcome this time, which could push the BTCUSDT price up to 36.000.
Probabilities
The probability of a further rise in the BTCUSDT price in the next 2 weeks is estimated to be 70%. The probability of a decline in the price is estimated to be 30%.
Risk Warning
It is important to note that any investment in cryptocurrencies carries a high risk. The predictions should therefore be understood as only indicative.
Visit our website for your trading edge! Discretionary and algorithmic trading is our day-to-day business.
Data
The chart analysis was conducted using weekly charts of the BTCUSDT price from 2011 to the present.
Technical Analysis
A clear uptrend is visible on the weekly chart. The BTCUSDT price has risen in 2023. The resistance level of 32.000 was reached on Jul 2023, but not exceeded. Since then, the price has declined and has now stabilized in a sideways movement.
Big Cycle Analysis
A statistical analysis of BTCUSDT prices shows that there have been regular cycles in the past where the price has risen by 50% to 100%. These cycles typically lasted about 1.5 to 2 years.
The current uptrend began on Jan 2023, which is about 10 months ago. It is therefore possible that the BTCUSDT price will experience another rise in the next weeks.
Prediction
Based on the technical analysis and the cycle analysis, it is likely that the BTCUSDT price will continue to rise in the next weeks. The resistance level of 32.000 could be overcome this time, which could push the BTCUSDT price up to 36.000.
Probabilities
The probability of a further rise in the BTCUSDT price in the next 2 weeks is estimated to be 70%. The probability of a decline in the price is estimated to be 30%.
Risk Warning
It is important to note that any investment in cryptocurrencies carries a high risk. The predictions should therefore be understood as only indicative.
Visit our website for your trading edge! Discretionary and algorithmic trading is our day-to-day business.
Comment:
On the Run for Target 1
Trade closed: target reached:
Target 2 reached... tha was a great push !
Comment:
Just as I announced some time ago, Bitcoin delivers. Target 3 will be triggered.
Target 3 will be triggered with a very high probability.
Target 3 will be triggered with a very high probability.