Possible Bitcoin price movement for the nearest week

١٧ نوفمبر ٢٠٢٢

Today we will consider possible movements of the BTCUSDT price for the nearest trading week.

If you are interested our global look side possible Bitcoin price movements for years on the weekly time frame, we invite you here:

We believe that in the near future, there will be a strong momentum to the upside.

Why can the price up move stronger than down?
Because in addition to standard purchases, short positions closing orders will be added to long-limit orders. And usually, closing shorts are purchases by orders at the closest market price.

If the BTCUSD price breaks out of the triangle upwards and consolidates above $16700-16800, it may activate the first wave of growth to $17600.
The target for the growth wave in the coming week is in the region of $19800-20000.

Also, before the start of growth, it can be possible to "break out" the stops of longs, because it is easier to grow without "extra passengers". The critical level is $16000

Therefore, we publish this idea in the 4-hour timeframe to make it convenient to track which of the scenarios the BTC price is moving in order to quickly make trading decisions.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more