The growth of Bitcoin above $20000 was a surprise for the bearish component of the cryptocurrency market.
Investors, on the contrary, the latest rise should cheer up, because the level of stress, measured in loss-making coins, is close to the historical maximum, according to the research centers.
What has happened in the past few days? Let's get to the bottom of it!
Intra-network as well as macroeconomic influences on bitcoin:
Upcoming Federal Reserve meeting:
BUT! This set-up indicates the equality of forces in the market and only a break-down of one of the lines will show us the future direction of the price movement.
Presumably, the market may be bullish until the November press release
Setup for entering a long position:
Sincerely R. Linda!
Investors, on the contrary, the latest rise should cheer up, because the level of stress, measured in loss-making coins, is close to the historical maximum, according to the research centers.
What has happened in the past few days? Let's get to the bottom of it!
Intra-network as well as macroeconomic influences on bitcoin:
- -The U.S. banking regulator said the government wants to make it easier for banks and their customers to hold cryptocurrencies while keeping control of the fast-growing asset
- - A continued outflow of funds from cryptocurrency exchanges to cold wallets.
- - The Bank of Canada is about to change its stance on interest rates.
- -Collapse of the aggregate aggregate balance sheet to 2018 levels
- -Devaluation of a number of national currencies
- -Tightening financial supervision.
Upcoming Federal Reserve meeting:
- -Less aggressive rate hikes support bitcoin and other cryptocurrencies
- - Monetary policy tightening is happening to the point where millions of Americans who are already suffering from high inflation are losing their jobs
- - The U.S. Federal Reserve is expected to issue its fourth consecutive super-sized interest rate hike in November, bringing the policy rate to 3.75%-4%
- -A 75 basis point interest rate hike is expected
- - MACD (1 hour) bulls are showing strength, indicator is gaining momentum
- - RSI (1 hour) Indicator is above 50
- - Major support levels are 20,400, followed by 20,000 and a maximum defensive level of 19260
- - Major resistance levels - 20,780, followed by 21,000 - important liquidity zones that will affect further movement
BUT! This set-up indicates the equality of forces in the market and only a break-down of one of the lines will show us the future direction of the price movement.
Presumably, the market may be bullish until the November press release
Setup for entering a long position:
- 1) The price breaks through the resistance of the sideways range, in which it has been for quite a long time, and has managed to accumulate enough energy that needs to be sold somewhere
- 2) There is a trend line on the chart, which carries the key value at the moment. The price is traded above the line, which indicates a bullish sentiment
- 3) We expect a pullback, followed by a testing of the previously broken line and if the price consolidates above the level, we try to look for a point to enter a long position
- 1) Expect a break-down of the range resistance (the price will return inside).
- 2) It is acceptable to open an order on breakdown
- 3) It is acceptable to open an order after the price consolidation under the level (less risk)
- 3) in this case the potential of the movement will be $2000
Sincerely R. Linda!
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NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
We expect surely a test of the zone and further reaction: a return up and consolidation above or a drop and rollback to the zone with the subsequent fall.