Technical Analysis:
In the short term, Bitcoin is bullish.
1. Bitcoin rising above a prolonged consolidation to higher price level $47,000 early Monday, a confirmation of a break out to more bullish rally.
2. On the daily chart, 50 SMA pending bullish cross over 100 SMA will further confirm bitcoin bullish sentiment.
Fundamental Analysis:
The following fundamentals will affect market condition on the long term.
1. Fed interest rate hike of 25bp.
2. Fed planned yearly $1 trillion QT (In the effort to reduce Fed balance sheet from $9 trillion to $6 trillion in 3 years).
3. Russia - Ukraine war.
In the short term, Bitcoin is bullish.
1. Bitcoin rising above a prolonged consolidation to higher price level $47,000 early Monday, a confirmation of a break out to more bullish rally.
2. On the daily chart, 50 SMA pending bullish cross over 100 SMA will further confirm bitcoin bullish sentiment.
Fundamental Analysis:
The following fundamentals will affect market condition on the long term.
1. Fed interest rate hike of 25bp.
2. Fed planned yearly $1 trillion QT (In the effort to reduce Fed balance sheet from $9 trillion to $6 trillion in 3 years).
3. Russia - Ukraine war.
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.
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.