#BTCLIVE 31.10
TLDR:
Short-Term (-1 Day)
70:30- Bullish:Bearish
Long-Term (1 Month+)
70:30 - Bullish:Bearish
Technicals
Price rejected at $21k and retracing to support at $20.5k.
Potential for price to dip lower as there is a weekly pivot point at $20.3k.
My opinion is that we are forming a second bullflag in the breakout sequence, collecting liquidity to break $21k.
Fundamentals
I would however wait for confirmation as we have alot of Economic data released this week.
Tuesday & Wednesday is the latest FED meeting where we'll get confirmation of the interest rate hike. Any news on potentialy slowing rate hikes could pump the market.
Tuesday Microstrategy release their earnings report, BTC price will react if they are in any way distressed as there will be a fear that the whale will sell of BTC to make up shortfalls.
Similarly Robin Hood & Coinbase will announce their earnings Wednesday and Thursday. We just need to hope there are no Meta style disasters.
TLDR:
Short-Term (-1 Day)
70:30- Bullish:Bearish
Long-Term (1 Month+)
70:30 - Bullish:Bearish
Technicals
Price rejected at $21k and retracing to support at $20.5k.
Potential for price to dip lower as there is a weekly pivot point at $20.3k.
My opinion is that we are forming a second bullflag in the breakout sequence, collecting liquidity to break $21k.
Fundamentals
I would however wait for confirmation as we have alot of Economic data released this week.
Tuesday & Wednesday is the latest FED meeting where we'll get confirmation of the interest rate hike. Any news on potentialy slowing rate hikes could pump the market.
Tuesday Microstrategy release their earnings report, BTC price will react if they are in any way distressed as there will be a fear that the whale will sell of BTC to make up shortfalls.
Similarly Robin Hood & Coinbase will announce their earnings Wednesday and Thursday. We just need to hope there are no Meta style disasters.