Bitcoin is moving within the framework of the priority scenario mentioned earlier today. The range has narrowed to 42,500-42,400 at the bottom and 43,400-43,500 at the top.
The narrowing range indicates that we will soon be breaking out of it. I'm referring to breaking out of the larger range, with the lower boundary at 42,000-41,700 and the upper boundary at 43,700-44,000.
The US Dollar Index continues to rise and is currently at the mid-November 2023 highs. The yield on 10-year bonds is also increasing.
Stock markets are predictably decreasing, but nothing extreme so far. However, if the US Dollar Index does not stop its ascent and surpasses 105, the situation will be more alarming.
On the other hand, the longer the US Dollar Index rises, the sooner it will transition to a decline. Objectively, there are no reasons for its medium-term growth.
However, there are reasons for a decline. And when it finally shifts towards a decline, it will be a powerful factor for the growth of all markets, including cryptocurrencies.
More good news - BTC-ETF advertising will not only be on Google (it's already there), but also on Facebook and Instagram.
The narrowing range indicates that we will soon be breaking out of it. I'm referring to breaking out of the larger range, with the lower boundary at 42,000-41,700 and the upper boundary at 43,700-44,000.
The US Dollar Index continues to rise and is currently at the mid-November 2023 highs. The yield on 10-year bonds is also increasing.
Stock markets are predictably decreasing, but nothing extreme so far. However, if the US Dollar Index does not stop its ascent and surpasses 105, the situation will be more alarming.
On the other hand, the longer the US Dollar Index rises, the sooner it will transition to a decline. Objectively, there are no reasons for its medium-term growth.
However, there are reasons for a decline. And when it finally shifts towards a decline, it will be a powerful factor for the growth of all markets, including cryptocurrencies.
More good news - BTC-ETF advertising will not only be on Google (it's already there), but also on Facebook and Instagram.
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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.
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.