BTCUSD Weekly Forecast Analysis 3-7 Oct 2022

BTCUSD Weekly Forecast Analysis 3-7 Oct 2022

We can see that currently the volatility is around 10.02% for this week, rising from the 9.61% from the last week.
Currently there is around 31.7% that the asset is going to close either above or below the channel:
TOP 20900
BOT 17230

The current volatility percentile is around 70th, and in this situations in general the
AVG weekly bull candle = 5.4%
AVG weekly bear candle = 7.67%

With this mind, from the opening price it would situate us around
TOP 20000
BOT 17500

At the same time, due to the nature of the opening price, making this weekly candle a bullish candle, there is currently a
64% that we will break the ath of previous weekly candle of 20380, and there is a 25% that we will touch 18500.
However if the current price is going to go below the opening of 19060, the ratios are going to be reversed, the 18500 will become 65%
and the 20500 will become 25-30%.

From the technical analysis point of view:
The majority of moving averages ranging from 10 to 200, are currently around 80% agreement that the market is in a short trend ( the current price is below those moving averages)
At the same time if we are looking at the candle type since the beginning of the year, we can see that 62% of them were bearish, solidificating the bearish trend.


News that can affect the price of this asset this week:
- Thursday 6 October : Initial Jobless Claims and ECB Report
- Friday 7 October: Nonfarm Payrolls