BTCUSDT Perpatual Market Analysis

٦ أغسطس ٢٠٢٢

Hi All,
BTC is currently ranging in the same support and resistance zone. The market seems to move in the same zone market in the shared parallel channel. The only good thing that happened in the last few days is that we have observed a golden cross. This can be a slight indication that BTC might take a bullish movement from here. My prediction for BTCUSDT is as follows: -

• BTC is consolidating for a very long time in the last few months
  
• A lot of BTC has been moved from exchanges too hard wallets. This is a clear indication that the whales have been accumulating
  
• A golden cross (EMA 200 crosses and goes above EMA 50) in a 4-hour timeframe can be seen clearly. This is a bullish indication
  
• The parallel channel is also holding the formation. This is why we can see BTC making higher lows
  
• The only problem which can hold the market from pumping right now is the dispute between the Indian government, Wazirx and Binance
  

Please read the chart and try to understand the market sentiments yourself. Feel free to comment if you need any additional clarification.