BITCOIN OUTLOOK

6 ene 2022

Bitcoin!! the crypto on everyone's lips i still will start making bullish movement soon for the following reasons:

On the daily time-frame we note that the bearish trendline created on the 6th of september 2021 had been broken and is now being retested as a supporting trendline.
price has come to a daily support zone of 44500.00 - 42665.05
the price of bitcoin had also made a strong bearish movement pushing price down to the 61.8% fib pull back
moving in closer to recent action, we see on the 8th of november 2021, after creating a record high of 68825.24, market stared moving in a bearish wave respecting the resisting trendline. 2 weeks ago price had broken above it and as we see on the 30th - 31st its being respected and is being tested for the second time.

HOWEVER price may push down a bit further to the red zone then move bullish
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fundamentals.
THURSDAY, JANUARY 6
13:30
USD Goods and Services Trade Balance(Nov)
USD Initial Jobless Claims(Dec 31)
USD Initial Jobless Claims 4-week average(Dec 31)
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15:00
USD Factory Orders (MoM)(Nov)
USD ISM Services Employment Index(Dec)
USD ISM Services New Orders Index(Dec)
USD ISM Services PMI(Dec)
USD ISM Services Prices Paid(Dec)
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13:30
USD Average Hourly Earnings (MoM)(Dec)
USD Average Hourly Earnings (YoY)(Dec)
USD Labor Force Participation Rate(Dec)
USD Nonfarm Payrolls(Dec)
USD U6 Underemployment Rate(Dec)
USD Unemployment Rate(Dec)