13.02.23 - 19.02.23

Last week results

Instruments:

At the beginning of the week, a downtrend developed with good acceleration. But on Wednesday, February 15, the resistance line was broken and Bitcoin rushed up sharply. It was possible to catch this movement only with pending orders. Bitcoin confidently passed the width of the channel in the upward direction.

▶️ Since Monday, February 13th, BTC and ETH have seen a significant price increase, with Bitcoin flying toward the $25,000 mark and Ethereum briefly surging above $1,700 on Wednesday, the 15th.

▶️ US SEC fight against stablecoins worried crypto investors

▶️ The world's largest crypto exchange Binance will freeze the possibility of withdrawing and depositing funds in US dollars

These week’s key events

▶️ Since Monday, February 13th, BTC and ETH have seen a significant price increase, with Bitcoin flying toward the $25,000 mark and Ethereum briefly surging above $1,700 on Wednesday, the 15th.

▶️ US SEC fight against stablecoins worried crypto investors

▶️ The world's largest crypto exchange Binance will freeze the possibility of withdrawing and depositing funds in US dollars

📈 BTC downtrend

The downtrend has been exhausted. The breakdown of the resistance line semaphore this and now allows us to confidently assert the resumption of the upward movement. While the upward movement has not gained, we should expect a deep correction in the downward direction.

💡 3 reasons to trade BTC now:

🔹 Rising of BTC could be unlimited. Some analysts predict 30K per coin

🔹 To join the market, it is better to look for an opportunity to open a deal on a correction

🔹 For whole crypto market is now dominated by buying

BTC:The number of unique addresses holding at least 100 coins.

🔹Technical analysis: TThe downtrend support line has been broken. The past resistant level 23,900 became a support. After a sharp upsurge, the price has already corrected by 50%. 25,000 is a strong resistance level as max. of August 22.

Long Strategy: Two options. Open a deal when the level of $25,257 is broken at a price of $25,270. Stop Loss is at $23,785. Profit is equal to the length of the previous trend at $28,700. You can open a deal at the current price, then the stop will be smaller, but there is a risk of stumbling at the level of $25,257.

Short Strategy: It's risky, but you can open a trade at $24,480. Stop loss is $25,270. Profit is at $22,480.

❗️ Use this opportunity to make the right decision.

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