Bitcoin will Go Down Again!?

28 Nov

Yesterday's data, including GDP, Core PCE, and Unemployment Claims, indicate persistent inflationary pressures and a relatively strong U.S. labor market. This could increase the likelihood of continued hawkish monetary policy from the Federal Reserve, typically strengthening the dollar and putting downward pressure on risk assets like Bitcoin(BTCUSDT).

Conversely, if markets interpret these figures as nearing the end of the Fed's rate hike cycle, it could be a bullish signal for Bitcoin.

Bitcoin has managed to break the Ascending Channel in the last two days. (as I expected in the previous post).

Currently, Bitcoin is moving in the Resistance zone($97,642-$97,180) and near the lower line of the ascending channel and Important Resistance line. Yesterday's upward movement can be considered a pullback to the ascending channel (broken). One of the signs of the completion of a pullback can be the Shooting Star Candlestick Pattern(You can see this pattern in the 4-hour time frame).

According to the theory of Elliott waves, Bitcoin seems to be completing a corrective wave, a Zigzag corrective(ABC) wave structure.

Also, considering that USDT.D%(USDT.D) will again follow an upward trend and BTC.D%(BTC.D) will follow a downward trend, Bitcoin may be corrected again. Maybe the conditions(In terms of Correction) of Altcoins will be better than Bitcoin.

I expect Bitcoin to start falling again after the pullback completes, and the first target is the CME Gap($93,835-$93,720), and then attack the Support zone($90,000-$88,700) again.

🙏Please respect each other's ideas and express them politely if you agree or disagree.🙏


⚠️Note: If Bitcoin goes above Resistance zone($97,642-$97,180), we can expect it to touch $100,000.⚠️

Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.

🔔Be sure to follow the updated ideas.🔔

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.

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28 Nov

Trade aktif

Trade was activated, and the CME gap will be filled soon.

29 Nov

Trading ditutup: stop tercapai

Bitcoin started to rise again after the news that came today, as I said in previous posts, the crypto market is more dependent on the news than before, so we have to be ready for any scenario at any moment.

Important Today's News:(Exactly the increasing candles were created after these news that were released at the same time.)

1-Vancouver Mayor Proposes Bitcoin Reserve Plan

2-Switzerland Approves Bitcoin Mining Study

Be sure to read the full posts so that you can learn about the other scenario if the analysis is Invalid, in the text, I told you about the breaking the Resistance zone($97,642-$97,180).👇

⚠️Note: If Bitcoin goes above Resistance zone($97,642-$97,180), we can expect it to touch $100,000.⚠️

I will try to update the BTC Chart soon.