68 Trading Plan (January 23 – Jan 29, 2023) – Is it “Alt Season”?

Happy Tet don’t forget the task, today, let’s make a trading plan for next week together!

68 Trading Plan (January 23 – January 29, 2023) – Is it “Alt Season”?

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Review of last week’s trading plan

Last week, we had 3 plans for BTC, DOGE and SOL, in which there were 2 active plans, BTC and DOGE, while the plan for SOL could not be activated when the entries did not match. Brothers and I review 2 plans for BTC and DOGE.

Plan for BTC

We already have 2 scalping plans for BTC depending on how the price will break out and go after the sideway ends:

After that, BTC broke out to the upside and hit the take-profit area we expected to be at $22,000.

Plan for DOGE

We had a buy plan for DOGE, even though there was a profit of about 5% after that but the price came back and swept the stop loss. Currently, DOGE price is still only sideways and has not been able to break out of resistance to rise again.

In addition to the signals in the weekly fixed plan, 68 Trading also regularly calls many other quality bets on Telegram, so don’t forget to join our community right away to receive analysis, sharing and betting. It’s completely free!

The APT bet we called in the group, achieved a profit of nearly 50%

Bitcoin (BTC) analysis and commentary next week

BTC did not correct as we wanted but continued to rise this past week, reaching a price of 23,300. Thus, for 3 consecutive weeks BTC has created 3 bullish candles. This is a pretty strong price reversal sign. However, I still maintain my opinion that I will wait for the price to correct before I can enter, because now the price is already too close to the next resistance (USD 24,200).

1W graph of BTC/USDT pair on Binance Futures, screenshot of TradingView on the evening of January 22, 2023

Therefore, the appropriate strategy in the near future is to buy when the price has retracements in the smaller time frame.

In frame D, you will see more clearly the strong buying force of BTC, almost the price has not had a strong correction but only sideways and then continued to increase. The two candlesticks this weekend are showing the indecision of the market when the price creates quite long candlesticks. This is also quite understandable when BTC has been too “bearish” for a long time, so this strong rally is not enough to convince many people to dare to buy.

1D graph of BTC/USDT pair on Binance Futures, screenshot of TradingView on the evening of January 22, 2023

So next week the probability is high that BTC will sideway or correct slightly.

The price is likely to sideway in the range of 22,400 – 23,400 USD in the near future.

4h graph of BTC/USDT pair on Binance Futures, TradingView screenshot on the evening of January 22, 2023

Thus, you can go long when the price touches the lower range ($22,400) and create a nice setup or wait for the price to break the upper resistance at $23,400.

BTC.D

Finally, after a long time, BTC.D has hit weekly resistance. If you follow Kyptos’s plan regularly, you will remember that I talked a lot about this resistance area. There is a high possibility that BTC.D can drop from here, if combined with the sideway of BTC will create conditions for many altcoins to pump.

Graph of Bitcoin’s capitalization rate against the entire crypto market cap (Bitcoin Dominance), TradingView screenshot on the evening of January 22, 2023

Some plans for Altcoins

DOGE

DOGE is currently still a coin that I am quite interested in and looking forward to. You can see the price has been sideways for quite some time below the critical resistance ($0.088). We can buy the spot here or wait for the price to break out completely from the downtrend line + $0.088 resistance then buy/long.

4-hour chart of DOGE/USDT pair on Binance Futures, TradingView screenshot on the evening of January 22, 2023

AVAX

AVAX price has broken out from important resistance, you can go long / buy up to follow the trend of the market.

4-hour chart of AVAX/USDT pair on Binance Futures, screenshot of TradingView on the evening of January 22, 2023

Macro news

On January 26, 2023, at 8:30 p.m., the United States will release two important figures, Gross Domestic Product (GDP) (quarter 4) and the initial claim for unemployment benefits. According to the project, the gross domestic product GDP in the fourth quarter may be lower than before, while the claim for unemployment benefits will increase => these are all bad news for the USD.

Ending

Here are a few trading plans from my personal perspective. Hope you will have another perspective for reference and better trading next week. Wishing you all a very happy and prosperous new year!

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