30.01.23 - 05.02.23
Last week results
Instruments:
The week's top gainers: The last week has been predictable. Again, the maximum was updated since August 2022, above 24,000. Again, a strong upward impulse and a rollback to the previous level. There is no need to change strategy with such moves. It means that intraday traders were able to trade up one day and down the next. Meanwhile, the bulls are simply holding open trades in the hope that movement continues upward.
What happened last week :
▶️ Despite the recent negative news from the cryptosphere, the total capitalization of the cryptocurrency market in January exceeded $1 trillion.
▶️ Tesla Lost $140M on its Bitcoin Position in 2022.
▶️ Kang Jong-hyun, owner of South Korea's largest cryptocurrency exchange Bithumb, has been arrested on multiple charges, including dereliction of duty, market manipulation and fraudulent transactions.
These week’s key events
The week's top gainers: The last week has been predictable. Again, the maximum was updated since August 2022, above 24,000. Again, a strong upward impulse and a rollback to the previous level. There is no need to change strategy with such moves. It means that intraday traders were able to trade up one day and down the next. Meanwhile, the bulls are simply holding open trades in the hope that movement continues upward.
What happened last week :
▶️ Despite the recent negative news from the cryptosphere, the total capitalization of the cryptocurrency market in January exceeded $1 trillion.
▶️ Tesla Lost $140M on its Bitcoin Position in 2022.
▶️ Kang Jong-hyun, owner of South Korea's largest cryptocurrency exchange Bithumb, has been arrested on multiple charges, including dereliction of duty, market manipulation and fraudulent transactions.
📈 BTC trendline breakout
Bitcoin has broken through the uptrend support line. While trades, you need to follow the support line of the channel and on the past levels.
💡 3 reasons to trade BTC now:
🔹Quite a lot of recently formed levels that you can focus on to open deals.
🔹 The market falls faster than it rises. This means that you can make a profit faster.
🔹 Opportunity to open by trades at a better price.
BTC:The number of unique addresses holding at least 100 coins.
🔹Technical analysis: The breakdown of the uptrend line allows you to set a target in the width of the channel. Also focusing on the past resistance levels, the target could be the level around 21500.
Long Strategy: We can open a long position using pending order. if the price moves down $22,110, and then we can apply a Take Profit at $23,350. The Stop Loss should be around $21,440.
Short Strategy: We can open a short trade on price rollback at $23,000 and place our Take Profit at $22,000. A Stop Loss can be considered at $23,480.
❗️ Use this opportunity to make the right decision.
Exchange BTC
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