BTCUSD Analysis for the Week

I am sharing the technical analysis of #BTCUSD for the week starting 29 November 2021. I’m using the following indicators:

  1. Investment Castle #channels-indicator
  2. #supply-and-demand Indicator

First off, I start my technical analysis with the daily chart time frame then I scale down to M15.

From this chart alone, we see selling pressure continues and it is likely to hit the 50,500 USD. Let’s see the lower time frames.

In M15 chart time frame, the price is swinging in the weekend, that’s normal. I can see that the M5 channel is switching down to a downtrend and this will push the M15 channel to follow M5 as well.

I recommend to wait until we see a breakout in H1 time frame. Otherwise, we might see the market retest before BTC continues the fall to 50,500 USD.

Leave your comment below if you agree/disagree.