Technical analysis by MT4-trader about Symbol BTC: Sell recommendation (1/28/2023)

I don't really know what all the excitement is about. On Weekly it seems like BTCUSD is entering a Death Cross suggesting a longer bear market. The price is fast approaching the 50 and 200 MAs so that will certainly play an important role. In addition Bitcoin finished the week with a lower high and the volume is clearly waning. Therefore, I think Bitcoin will start dropping soon. From a fundamental point of view, I would not be surprised if the Fed decided the markets are too optimistic right now and throw in a 50-point increase to reign in the dollar. That would send shockwaves through all the risk assets.