📈Bitcoin weekly prediction, 23K or 31K?📉

BTCUSDT
BTCUSD

As we specified in the previous analysis, Bitcoin's movements were limited in the green structure that was specified in the previous analytical idea. For this reason, the price started to fall from the level of 28 thousand dollars and could not stabilize at higher levels. Why?
Because at that time there was no catalyst to stabilize the price. I expected the price to receive this catalyst after reaching the September 1-3 time zone, but the sentiment remains negative for Bitcoin.

• In this week, bitcoin price continues to move in an ascending channel (in yellow).
  
• The news around Bitcoin makes it more likely that the Bitcoin ETF will be approved.
  
• As the probability of ETF approval increases, the green path and the bullish scenario will strengthen.
  
• On the other side, if the price breaks the yellow channel from the bottom and behaves indifferent to the red fork structure, there is a possibility that the price will go down to the yellow area.
  
• Overall, in my opinion, as long as the price of Bitcoin does not fall below the $23,000 level, there is a possibility that it will go higher.
  
• But if the price loses the yellow zone and the support of $23,000, the level of 22,500 to 21,500 will be a strong support for Bitcoin in the bearish scenario.
  

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Bình luận:

After hitting the bottom of the pitchfork, Bitcoin returned to the channel structure.💥✌

Bình luận:

If Bitcoin does not react negatively to the middle Bollinger line and does not return below it, the consolidation of Bitcoin in the channel can activate the bullish target.

Bình luận:

As I said, the price has started a temporary upward rally and is trying to advance to the ceiling of the yellow channel.💥✌