Greetings to you on the crypto site. My name is Viktor and today I will share my opinion about #bitcoin, #btc-usdt, using the TradingView service, here Bitcoin Rate Forecast for the week of 08-10-2024.
Monthly timeframe
Hello, my name is Victor. Today, 8 January 2024, I would like to share with you my analysis of Bitcoin for this week. On the monthly timeframe, I see that trading volumes remain very low, which may indicate a need for consolidation. This could be a signal for a potential drop in the rate in the near future.
Weekly timeframe
On the weekly chart, the stochastic oscillator indicator shows that the rate may leave the overbought zone and go down. This may indicate the beginning of a downward phase. I expect a correction, which may not be very deep, but it will still be noticeable.
On the daily chart, the divergence indicator shows that there may be a decline. This may indicate a need for accumulation before growth. I expect the market to consolidate, but the exact time of the start of this downward movement remains uncertain.
Buyer/seller sentiment
There is a split opinion on the bitcoin market. Although many predict continued growth, there are also short ideas that I hold. The market sentiment is split roughly in half.
Weekly exchange rate forecast summary
In summary, I believe that bitcoin could go through a period of consolidation in the coming months. However, a return to previous highs is possible in 2024, especially if there is a correlation with bitcoin.
The current technical analysis for Bitcoin (BTC) presents a mix of bullish and bearish sentiments:
📈 Key support and resistance levels for Bitcoin:
🎒 To capitalize on these market trends and explore advanced trading strategies, consider joining 3Commas, a leading AI trading platform.
Greetings to you on the crypto site. My name is Viktor and today I will…
Technical analysis and forecast of cryptocurrencies: educational videoCongratulations! My name is Viktor and in this…
Welcome to the crypto site. My name is Victor, and today: Alt season, Bitcoin, S&P…
Greetings to you on the crypto site. My name is Viktor and today I will…
Using Fibonacci Tools in Crypto Investing The cryptocurrency market often exhibits significant fluctuations, and it…
Welcome to the crypto site. My name is Victor, and today: Entry to the Crypto,…
This website uses cookies.