Market Overview and Bitcoin Price Analysis Today (02/12)
Technical analysis BTC
Observed on the H4 frame, after the strong increase in touching the $ 17200 BTC area had a decrease in the area of 16900. However, the decline may not stop here. Price may continue to support the supporting area of 16600 - 16800.
At the above support area, increasing may continue to rise again. After the price comes here to create divergence on small frames. Target gives this increase from 17500 - 18000.
Market overview
Recently, Bitcoin (BTC) has increased by 10% to more than $ 17,000 despite concerns about the spread of prolonged FTX and Blockfi applied for bankruptcy.
Fed Powell president began to loosen more after the midterm elections of the US. This has caused DXY to decrease sharply leading to the expectation of interest rates will increase slowly. Risk assets will tend to increase thanks to the weakness of USD, especially bond interest rates are also decreasing.
Bitcoin can be a safe residence when the global economy decreases, the world geography is unstable. This can promote Bitcoin price growth again. In addition, the price compression status of Bitcoin for a long time and the expectations of traders can make BTC prices break out strongly in the coming days.
Watchlist
Huobi Coin (HT): HT has increased by 40% after Houbi announced that it will release Dominican Coin Token (DMC) to the Dominican Republic.
Dogecoin (DOGE): Doge increased more than 33% after the information Elon Musk and Vitalik cooperated to upgrade Dogecoin.
Hooked Protocol (HOOK): Hook increases Ath X50 next time after Launchpad succeeds in Binance, but considering that when the price comes back to the X10 can buy in the next push.
Observed on the H4 frame, after the strong increase in touching the $ 17200 BTC area had a decrease in the area of 16900. However, the decline may not stop here. Price may continue to support the supporting area of 16600 - 16800.
At the above support area, increasing may continue to rise again. After the price comes here to create divergence on small frames. Target gives this increase from 17500 - 18000.
Market overview
Recently, Bitcoin (BTC) has increased by 10% to more than $ 17,000 despite concerns about the spread of prolonged FTX and Blockfi applied for bankruptcy.
Fed Powell president began to loosen more after the midterm elections of the US. This has caused DXY to decrease sharply leading to the expectation of interest rates will increase slowly. Risk assets will tend to increase thanks to the weakness of USD, especially bond interest rates are also decreasing.
Bitcoin can be a safe residence when the global economy decreases, the world geography is unstable. This can promote Bitcoin price growth again. In addition, the price compression status of Bitcoin for a long time and the expectations of traders can make BTC prices break out strongly in the coming days.
Watchlist
Huobi Coin (HT): HT has increased by 40% after Houbi announced that it will release Dominican Coin Token (DMC) to the Dominican Republic.
Dogecoin (DOGE): Doge increased more than 33% after the information Elon Musk and Vitalik cooperated to upgrade Dogecoin.
Hooked Protocol (HOOK): Hook increases Ath X50 next time after Launchpad succeeds in Binance, but considering that when the price comes back to the X10 can buy in the next push.
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