Altcoin Sherpa
Altcoin Sherpa

@AltcoinSherpa

6 Tweets Jan 17, 2023
$BTC: Some different charts on different timeframes.
#BTC #Bitcoin
$BTC 1M: I think looks meh. It closed right at a key wick established in January 2018 at 17.2k but it's still not great. The next solid 1M level would be around 14k in my opinion.
$BTC 1W: A bunch of neutral candles, nothing really to say about this. I think that the bulk of the immediate downtrend is over but I don't think this is the macro bottom. Still wouldn't dismiss this going to 18-19k before potential new lows.
$BTC 1D -Some notes on the chart. I think that we need to see price clear 17.5k- if that happens, I think 19k could be next up.
$BTC 4h: I wouldn't be surprised if price currently pulls back around here. 200 EMA on the 4h, S/R level approaching, etc. Would be surprised if it broke it on the first go; would more like to see price tap the 200 EMA at 17.5k/go to 16.6k and then resume upwards.
Overall idea: Btc has no macro bottomed quite yet but I think that we are going to see price eventually go into the 18ks. Would expect a breakdown there and will be looking for shorts. I think alts continue to do well for the next few weeks while this happens for BTC.

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