Bitcoin Trend Analytics October 12
Similar to the analysis yesterday, BTC is about to leave the channel and develop into new sideway patterns.
Yesterday BTC went down to test $18798.44, with short-term capital inflow. The price dropped with increasing fund outflow and in the next 5 hours saw small capital inflow. The latter is larger than the former, so the price is kept at this level. But the inflow is not enough to form a reversal at the moment.
Monitor this area - if the support is broken down, BTC could slide down. Set protections.
$19882.81 is still a battleground. Only by taking hold of it could it reach neutral or the movement is still bearish.
Now the price is pegged to 19k with shrinking volumes. BTC could possibly survive the release of CPI .
The market expected interest rate hike in November: 75bp(77.7%),50bp(22.3%)
Yesterday BTC went down to test $18798.44, with short-term capital inflow. The price dropped with increasing fund outflow and in the next 5 hours saw small capital inflow. The latter is larger than the former, so the price is kept at this level. But the inflow is not enough to form a reversal at the moment.
Monitor this area - if the support is broken down, BTC could slide down. Set protections.
$19882.81 is still a battleground. Only by taking hold of it could it reach neutral or the movement is still bearish.
Now the price is pegged to 19k with shrinking volumes. BTC could possibly survive the release of CPI .
The market expected interest rate hike in November: 75bp(77.7%),50bp(22.3%)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.