The crypto-market got a wave of gains last week, and the bullish attitude in some currencies has continued today. And starting this week, economic data, ETH merger, and FOMC will come one after another. The CPI data will be released in a little while, and almost everyone thinks it will fall, but how much will determine the hike at the end of September and the terminal federal funds rate. In two days, the merger of the ETH execution layer will also be launched. We can see from the data on the chain that the funding rate of ETH perpetual futures has shown a large-scale bearish attitude, which may be caused by some people's hedging. This also illustrates the criticality of the merger.
BTC started to rebound after touching the given support level last week, and on Friday rose with high volume, directly breaking the given resistance level. And the price did not turn down in the low-volume-weekend. Another high volume rise took place on Monday, with price almost come back where it started falling on Aug.19. We can see 7 green candles, which tells the strength of the bulls and it is difficult for the price to stop there.
Conclusion: Mostly rising. On the other hand, for BTC, the price once again generated a strong rebound at 19000. A bottom has been formed and the strength of the bulls is evident. So we raised resistance level to 24500 and the support level to 21400.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
BTC started to rebound after touching the given support level last week, and on Friday rose with high volume, directly breaking the given resistance level. And the price did not turn down in the low-volume-weekend. Another high volume rise took place on Monday, with price almost come back where it started falling on Aug.19. We can see 7 green candles, which tells the strength of the bulls and it is difficult for the price to stop there.
Conclusion: Mostly rising. On the other hand, for BTC, the price once again generated a strong rebound at 19000. A bottom has been formed and the strength of the bulls is evident. So we raised resistance level to 24500 and the support level to 21400.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
