Technical analysis by mcpnz about Symbol BTC: Buy recommendation (1/9/2024)

Below the technical analysis of BTCUSDT Timeframe: 1 weekThe main supports and resistances are indicated in the idea.A trendline starts from the green support: if this were to be invalidated by touching 1500-1600, a negative scenario would open up in the short term for ethereum.The narratives on spot ETFs could help bitcoin rise towards the ath (and more) over the green area on the top. This bullish cycle could be the last in terms of % returns for bitcoin: the price at the end of the year, thanks to etfs, could easily be 140-160k.Today marketcap: 910B