06/01/25 Weekly outlook
Last weeks high: $98,987.05
Last weeks low: $91,544.67
Midpoint: $95,265.86
2024 is over, 2025 has begun...
Bitcoin ending the year at its highest point since its creation after an impressive rally mainly at both ends of the year with a cool off in the middle.
Now that 2025 has started Bitcoin is looking to break $100,000 once more and begin what many believe to be the final year of the bullmarket. With the holidays now over and year open window dressing now done I would expect volume to return to the markets. Last week we saw a steady climb from the $92,000, whipsaw PA at year end and then a move up to just under $100,000. All that on very low volume which does make me a little worried, similar to weekend moves it's hard to know if they are true moves or just the result of a thin orderblock, this week will answer that question.
Some important data releases for this week include:
Tuesday - Euro CPI
Wednesday - US ADP Nonfarm employment, FOMC minutes
Thursday - CNY CPI & PPI, US Jobless claims
Friday - US Unemployment rate
As we get closer to president Trumps inauguration and the shift in the US from an anti crypto approach to a pro crypto approach, this week should be in preparation for that and could be reactive to news of Trumps administration choices and updates on the "Strategic bitcoin reserve" etc. These reactions could be positive or negative so getting a read on the market in the opening few days maybe wise.
The chart shows and early break above weekly high, this opens up the opportunity for a SFP if the weekly high is lost, if that is the case a drawdown towards Midpoint is on the cads, however if the weekly high is held as support a move towards $100,000 once again is the bullish target. Increased volume would cement either move as the weekly bias.
Good luck to all this year!
Last weeks low: $91,544.67
Midpoint: $95,265.86
2024 is over, 2025 has begun...
Bitcoin ending the year at its highest point since its creation after an impressive rally mainly at both ends of the year with a cool off in the middle.
Now that 2025 has started Bitcoin is looking to break $100,000 once more and begin what many believe to be the final year of the bullmarket. With the holidays now over and year open window dressing now done I would expect volume to return to the markets. Last week we saw a steady climb from the $92,000, whipsaw PA at year end and then a move up to just under $100,000. All that on very low volume which does make me a little worried, similar to weekend moves it's hard to know if they are true moves or just the result of a thin orderblock, this week will answer that question.
Some important data releases for this week include:
Tuesday - Euro CPI
Wednesday - US ADP Nonfarm employment, FOMC minutes
Thursday - CNY CPI & PPI, US Jobless claims
Friday - US Unemployment rate
As we get closer to president Trumps inauguration and the shift in the US from an anti crypto approach to a pro crypto approach, this week should be in preparation for that and could be reactive to news of Trumps administration choices and updates on the "Strategic bitcoin reserve" etc. These reactions could be positive or negative so getting a read on the market in the opening few days maybe wise.
The chart shows and early break above weekly high, this opens up the opportunity for a SFP if the weekly high is lost, if that is the case a drawdown towards Midpoint is on the cads, however if the weekly high is held as support a move towards $100,000 once again is the bullish target. Increased volume would cement either move as the weekly bias.
Good luck to all this year!
Catatan
As the US begins trading the early reaction is positive/bullish bouncing off the weekly high and confirming it as support.
A new higher local high will secure that bullish bias on the LTF even more.
Catatan
Disappointing to see the weekly high lost so easily, a stronger than forecast services ISM data signally a potential easing of rate cuts or at least the market is pricing in the scenario.
Midpoint is a key level as I said at the beginning of the week, for now 0.75 line is holding.
Catatan
At the 4H 200 EMA, first bounce
With the moving average turning bullish it should be strong support, time will tell.
Catatan
MIDPOINT HIT
Needs to be support here
Catatan
Midpoint lost
Weekly low major support the final stand for the next week or so
Catatan
Wicked the weekly low and back to Midpoint, good reaction so far but rejected off the midpoint for now.
Should be an interesting weekend
Catatan
Full move from midpoint to 0.25 line in 1 single candle on stronger than forecast Unemployment and nonfarm payrolls data news. Shows strength in the US economy but does hinder the chances of rate cuts continuing, and that is bad news for risk on assets generally due to higher capital borrowing costs.
Once the dust settles BTC shouldn't be in bad shape, anything above the weekly low is nothing to worry about IMO.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.