BTCUSDT $42578 Weekly Update Jan15 2023 #3
Bears have closed the last week candle below the weekly candle open.
This could slow the uptrend on the W basis.
However, since price is still above the W21ema, currently at 37k, and the M candle is still above the W21ema, this implies that the macro trend has not reversed yet.
The key level of support will remain the W21ema if price gets there.
And the next key level of resistance is the 0.888fib at 57-58k once 49k(0.786fib) is taken out.
This could slow the uptrend on the W basis.
However, since price is still above the W21ema, currently at 37k, and the M candle is still above the W21ema, this implies that the macro trend has not reversed yet.
The key level of support will remain the W21ema if price gets there.
And the next key level of resistance is the 0.888fib at 57-58k once 49k(0.786fib) is taken out.
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