btcusd weekly

Hi Guys,



We're charting this graph for this week's BTC/USDT, on this graph, we use trendline, pitchfork, and MacD below.



On this graph, Bitcoin has a good start in 2020 as we reach and pump almost 2k from $6673.70 then pump up to $8462 and closed for support level of $8,000 and we're in the stable price, but Bitcoin must reach and break the resistance level of $8.4 but this is not possible as we have a good news and for upcoming Chinese new year (Saturday, 25 January) and Bitcoin Halving for (MAY - bitcoinblockhalf.com/).



FYI check the MacD just a little bit more to reach the trendline and confirm bullish (With expecting a short pullback)



Verdict:



We open risk, Good buy at $8k to $7.8k (If break the good price for long term holders would be on the Rectangle graph $6.4k and $7.4k)



Stop loss at $7.4k



Target Price: $10344



Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)



Disclaimer: This is for educational purposes,it is not intended as a financial advice.



The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.