Bitcoin Weekly Timeframe Outlook:
Despite ww3 and all news, the idea remains the same: trade whats in front of you.
BTC currently is trading between 50&200 wma.
The 50w was a great support until it broke, now its our resistance. And our 200w will be the new support.
When bitcoin expands in a 20% move, it ranges for at least 2-3 months. This is where we start forming a range now.
The play here is simple. Scoop longs on the 200w and target minimum the 50wma for swings longs. Since we are now forming the new range i wouldn't target 90s immediately. I would wait to find a good wick close to the 50wma if i didnt have a position. I draw how the MAs are going to continue the ''painting''. Expect something like this, play between these MAs.
We saw a major uptrend in gold last months, gold loves uncertainty, markets dont.
SP500 still holds okayish but I would definetely keep an eye there. Also DXY looks like its about to do a reversal on big timeframes, keep an eye on the dollar as wel.