BTC came out of the downward channel, yet not stable. It’ll cut through between the strong resistances above and the long-term support channel shaded with green.
Yesterday the released CPI data >8.1%, and BTC dropped as predicted. Later a large amount of speculative capital inflow pulled the price back, strengthening the support. Now BTC is in a fierce battle to challenge resistance. Bulls and bears- who wins the battle will gradually be clear until Nov.3rd.
The short-term center is $19112.05, between a range of $20672.10-$18080.69. If the crucial resistance at $21576.93 is reclaimed in 2-3 weeks, BTC will enjoy a major recovery, otherwise bears still takes control.
The market expected interest rate hike in November: 75bp(96.7%),50bp(3.7%)
Yesterday the released CPI data >8.1%, and BTC dropped as predicted. Later a large amount of speculative capital inflow pulled the price back, strengthening the support. Now BTC is in a fierce battle to challenge resistance. Bulls and bears- who wins the battle will gradually be clear until Nov.3rd.
The short-term center is $19112.05, between a range of $20672.10-$18080.69. If the crucial resistance at $21576.93 is reclaimed in 2-3 weeks, BTC will enjoy a major recovery, otherwise bears still takes control.
The market expected interest rate hike in November: 75bp(96.7%),50bp(3.7%)