War and restrictions; up and down
Today is the end of the week, and tomorrow is the end of the month. As I've already said in yesterday's, the Ukraine vs. Russia conflict has affected all the markets.
<As always, both bullish and bearish scenarios can play out, but I turned bullish since we rejected 34k$. This doesn't mean we will go up in a straight line, but I do think that 47k$ is a target that we could reach within the next month. I'm going to talk more about this in the next high timeframe post, so don't forget to check my updates.
Regarding this chart, I see that at the moment we rejected the weekly VWAP, and it's leaning towards the weekly PoC.
Bullish scenario: it ends up making a higher high and going above 40k$ (something that I see possible if fundamentals don't mess up). A test of 42k$ (nPoC) is likely to happen.
Bearish scenario: we retrace to 38.8k$ and then we continue going down until around 36k (low volume node)
Have a good week and I hope you enjoyed the update!
<As always, both bullish and bearish scenarios can play out, but I turned bullish since we rejected 34k$. This doesn't mean we will go up in a straight line, but I do think that 47k$ is a target that we could reach within the next month. I'm going to talk more about this in the next high timeframe post, so don't forget to check my updates.
Regarding this chart, I see that at the moment we rejected the weekly VWAP, and it's leaning towards the weekly PoC.
Bullish scenario: it ends up making a higher high and going above 40k$ (something that I see possible if fundamentals don't mess up). A test of 42k$ (nPoC) is likely to happen.
Bearish scenario: we retrace to 38.8k$ and then we continue going down until around 36k (low volume node)
Have a good week and I hope you enjoyed the update!