Everyone sees the BTC price must fall, but will it be allowed ?)
Updated
Yesterday was a rather interesting trading day for BTCUSDT and the crypto market in general.
First, a "fresh" US inflation rate of 4.9% was announced, which turned out to be lower than expected.
The price of BTCUSDT reacted to this news by rising +2% from $27700 to $28300.
And then, a few hours later, as if on the news that the US government had sold almost 10 thousand BTC that had been confiscated earlier, the price of BTCUSDT fell -6% from $28300 to $26700
But in reality, if you look at the 12-hour candlestick, you'll see a so-called "helicopter": first, some of the shorts' stop orders were taken out, and then the same trick was repeated with the longs.
While the consolidation of $27-31k continues almost for 2 months, "the helicopter" was organized three times and after that begins growing.
Now, looking at the BTCUSD chart, almost everyone can see the "Head and Shoulders" pattern. Accordingly, most are waiting for the price to fix below $26600 and then fall to $25-24-23 and below.
And then a thought came to mind: "But this has already happened" and we copied the fractal from May-August 2020 and applied it to the current trading situation.
In our opinion, the similarity is quite large, and then everyone was also expecting a correction, but as you can see, the price went up according to the fractal.
Share your thoughts and charts in the comments below the idea.
"Buy the rumors, sell the facts"
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
First, a "fresh" US inflation rate of 4.9% was announced, which turned out to be lower than expected.
The price of BTCUSDT reacted to this news by rising +2% from $27700 to $28300.
And then, a few hours later, as if on the news that the US government had sold almost 10 thousand BTC that had been confiscated earlier, the price of BTCUSDT fell -6% from $28300 to $26700
But in reality, if you look at the 12-hour candlestick, you'll see a so-called "helicopter": first, some of the shorts' stop orders were taken out, and then the same trick was repeated with the longs.
While the consolidation of $27-31k continues almost for 2 months, "the helicopter" was organized three times and after that begins growing.
Now, looking at the BTCUSD chart, almost everyone can see the "Head and Shoulders" pattern. Accordingly, most are waiting for the price to fix below $26600 and then fall to $25-24-23 and below.
And then a thought came to mind: "But this has already happened" and we copied the fractal from May-August 2020 and applied it to the current trading situation.
In our opinion, the similarity is quite large, and then everyone was also expecting a correction, but as you can see, the price went up according to the fractal.
Share your thoughts and charts in the comments below the idea.
- Also, on June 13, new US CPI data will be announced (and given the calculation formula, the next US CPI with a probability of 99% will be lower than the current one), which will lead to market growth.
- And on June 14, a new FED rate will be announced, which probably won't be raised again, which is a signal of "economic recovery" and a signal for the growth of financial markets.
"Buy the rumors, sell the facts"
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
Note
The process of transferring capital from BTC to altcoins is long, but possible
Note
What if it is?) The main thing is to close today's trading day above at least $26500 And accordingly, tomorrow will continue to grow, because the weekly candlestick doesn't look like it's going up much yet) Buyers still have two days to fix itNote
The BTCUSDT price chart looks good enough to continue consolidation with a critical point at $28700. And as a maximum for continued growth to $36-37 thousand.
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