Market Overview and Bitcoin Price Analysis Today (06/12)
BTC Technical Analysis
Looking at the H4 frame, BTC creating a MACD divergence confirmed this divergence, showing that the buying power was exhausted. Today is expected to have an upward span towards the resistance zone 17300 - 17500.
Short term trading strategy
Short BTC 17100 - 17200
Take Profit: 16600
Stoploss: 17600
Market Overview
Yesterday evening data released by ISM showed that the ISM non-manufacturing index in the US unexpectedly increased in November, with business activity posting the biggest increase since March 2021. Also non-farm data Last week was also better than expected.
The chief economist at KPMG US says that November's strong wage growth may prompt the Fed to consider a 75 basis point increase in December rather than a 50 basis point increase.
According to CME "Fed Watch": the probability of the Fed raising interest rates by 50 points in December to about 4.25% - 4.50% is 79.4% and the probability of a 75 point increase is 20.6%. By February 2023, the probability of a 75-point increase in the cumulative interest rate is 37.1%, a 100-point increase is 51.9% and a 125-point increase is 11.0%.
This is good news for the USD => DXY rose 0.5% to 105.4 and 10-year US bond yields rose above 3.6%.
Stocks => down more than 1% and S&P 500 => down 1.25%, Dow down 350 points.
Bitcoin was also affected by this news and dropped to the area of 16800 USD
Looking at the H4 frame, BTC creating a MACD divergence confirmed this divergence, showing that the buying power was exhausted. Today is expected to have an upward span towards the resistance zone 17300 - 17500.
Short term trading strategy
Short BTC 17100 - 17200
Take Profit: 16600
Stoploss: 17600
Market Overview
Yesterday evening data released by ISM showed that the ISM non-manufacturing index in the US unexpectedly increased in November, with business activity posting the biggest increase since March 2021. Also non-farm data Last week was also better than expected.
The chief economist at KPMG US says that November's strong wage growth may prompt the Fed to consider a 75 basis point increase in December rather than a 50 basis point increase.
According to CME "Fed Watch": the probability of the Fed raising interest rates by 50 points in December to about 4.25% - 4.50% is 79.4% and the probability of a 75 point increase is 20.6%. By February 2023, the probability of a 75-point increase in the cumulative interest rate is 37.1%, a 100-point increase is 51.9% and a 125-point increase is 11.0%.
This is good news for the USD => DXY rose 0.5% to 105.4 and 10-year US bond yields rose above 3.6%.
Stocks => down more than 1% and S&P 500 => down 1.25%, Dow down 350 points.
Bitcoin was also affected by this news and dropped to the area of 16800 USD
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