BTC-USDT - December 14
Yesterday BTC moved up very fast after unexpected CPI data but remember inflation in USA is still near 40 year highs. Today FED may increase rates to 50bp but if it will be 75bp then huge bearish and whole market will be dumped. If rates will be 25bp then most probably it will move up and then will be down after FOMC Press Conference. FOMC Press Conference will set the future movement of the market.
Here could be the scenario:
75bp will be bearish
50bp will be mid term bearish but depends on the press conference output
25bp will be bullish for short period
Remember over all market is still bearish and you have seen the yesterday movement of the bitcoin and I have already told in my previous charts as well that expected move could be 17500 - 18000 but there could be less chances of 18k . Yesterday it touched the 18K and go down again. Bitcoin is still in bear flag and now moving within its crucial range of 17588 - 18230. Lets see that it can hold its current support of 17588 or not. If it rises above 18230 a probable bullish point is anticipated. However, I believe there is a good chance that the 18200-18900 section cannot be broken upward if money does not enter the coin market.
Today there will be volatility because of Fed Rates so try to stay away till clear picture of the market.
In a big picture its still bearish till 13K - 14K or may be more down to 10k. Its main support is 15300 and Bitcoin has not touched its bottom till now because no one know how much it can go down but if you see the over all market and Bitcoin chart you will see that if it break 14k area then 10k will be the crucial for Bitcoin and buyers. At this time buyers and sellers both want more down.
It will be bullish whenever it will cross 30k.
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!
Here could be the scenario:
75bp will be bearish
50bp will be mid term bearish but depends on the press conference output
25bp will be bullish for short period
Remember over all market is still bearish and you have seen the yesterday movement of the bitcoin and I have already told in my previous charts as well that expected move could be 17500 - 18000 but there could be less chances of 18k . Yesterday it touched the 18K and go down again. Bitcoin is still in bear flag and now moving within its crucial range of 17588 - 18230. Lets see that it can hold its current support of 17588 or not. If it rises above 18230 a probable bullish point is anticipated. However, I believe there is a good chance that the 18200-18900 section cannot be broken upward if money does not enter the coin market.
Today there will be volatility because of Fed Rates so try to stay away till clear picture of the market.
In a big picture its still bearish till 13K - 14K or may be more down to 10k. Its main support is 15300 and Bitcoin has not touched its bottom till now because no one know how much it can go down but if you see the over all market and Bitcoin chart you will see that if it break 14k area then 10k will be the crucial for Bitcoin and buyers. At this time buyers and sellers both want more down.
It will be bullish whenever it will cross 30k.
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!
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.