Bitcoin BTC price trade and analysis situation on crypto market

20 בפבר׳ 2023

Today, we will try to draw up a trading plan for the BTCUSDT pair and the cryptocurrency market in general for the current week.

After BTCUSDT hit a new high last week, sellers tried to push the price down. As a result, the price dropped quite sharply from $25250 to $23350.

The weekend has passed, and it looks like buyers are not planning to give up.
It is very likely that a consolidation trade is taking place now to continue the growth.

Trading plan:

• if buyers manage to keep the price above $24000 or breakthrough and gain a foothold above $25200, this is a "strong long" with a likely continuation of growth to at least $27300-27400
  
• if the price is fixed below $24000, the correction will continue to at least $22000, and maybe even lower
  

The main thing is to wait until one of the conditions is fulfilled and then make a trading decision.

If you look at the ideas that we made last year on big time frames:

Bitcoin & Cryptocurrency results of 2022 and plans for 2023-2025

How much can the Crypto market capitalization grow by 2025🔥?

it seems there is still time, space, and opportunity for continued growth in the near future, both for Bitcoin and altcoins.

What are your thoughts? What will happen to the market this week? Share your thoughts in the comments

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