Instability in financial markets is a chance for BITCOIN growth
Updated
If you are interested in our global view of the possible price movement of BCTUSDT and when is the most favorable time to start the alt-season, then you should re-read our previous idea:
Today we will analyze the local situation that is forming on the BCTUSD chart
This week, buyers managed to raise the price of BTC by +10% from 19k to 21k and break the first portion of shorts' stops, which were hiding above 20k.
To continue the growth trend, which is probably emerging, Bitcoin buyers need to keep the price above $19750-20000
If this condition is met, buyers can start storming the next liquidity zone from above around $23000 in search of the next batch of shorts' stops.
The critical point from the bottom, which indicates the relevance of a new growth trend that is likely to emerge, has risen to $18650
The critical point from above, which indicates that the sellers have not yet given up completely, is unchanged at $23400
In general, the situation in the financial markets is currently tense and ambiguous.
On the one hand: quarterly reports of the largest US companies do show not the best results (META Facebook shares reacted with a -25% drop)
On the other hand, the US GDP for 3Q showed the first growth in 2022 +2.6% contrary to pessimistic expectations.
And next week on 02.11.2022 the US Federal Reserve is expected to raise the rate by +0.75%.
So there are more than enough factors for increased turbulence in the financial markets)
Therefore, we recall that sitting without a position in anticipation is also a position, and it looks like it is now the safest.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
Today we will analyze the local situation that is forming on the BCTUSD chart
This week, buyers managed to raise the price of BTC by +10% from 19k to 21k and break the first portion of shorts' stops, which were hiding above 20k.
To continue the growth trend, which is probably emerging, Bitcoin buyers need to keep the price above $19750-20000
If this condition is met, buyers can start storming the next liquidity zone from above around $23000 in search of the next batch of shorts' stops.
The critical point from the bottom, which indicates the relevance of a new growth trend that is likely to emerge, has risen to $18650
The critical point from above, which indicates that the sellers have not yet given up completely, is unchanged at $23400
In general, the situation in the financial markets is currently tense and ambiguous.
On the one hand: quarterly reports of the largest US companies do show not the best results (META Facebook shares reacted with a -25% drop)
On the other hand, the US GDP for 3Q showed the first growth in 2022 +2.6% contrary to pessimistic expectations.
And next week on 02.11.2022 the US Federal Reserve is expected to raise the rate by +0.75%.
So there are more than enough factors for increased turbulence in the financial markets)
Therefore, we recall that sitting without a position in anticipation is also a position, and it looks like it is now the safest.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
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The BTCUSDT price started to move up to $23000
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🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
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