BTC is about to leave the downward channel. After that, the trend will develop into new patterns. It is likely to go sideways based on the current data. Strength is contracting, cultivating a breakout.
Yesterday short-term pressure forced the price down to test the speculative capital inflow at $19109.80-$18798.44. After testing twice on $19109.80 at 16:00 and 00:00 (UTC+8), BTC closed an intraday low at $18950, which is now under testing.
This area is not replenished with new capital inflows. The remaining capital sustains the price. We should monitor this area - if it’s broken down, BTC could slide down. Set protections.
$19882.81 is still a battleground. Only by taking hold of it could it reach neutral or the movement is still bearish.
The market expected interest rate hike in November: 75bp(78.4%),50bp(21.6%)
Yesterday short-term pressure forced the price down to test the speculative capital inflow at $19109.80-$18798.44. After testing twice on $19109.80 at 16:00 and 00:00 (UTC+8), BTC closed an intraday low at $18950, which is now under testing.
This area is not replenished with new capital inflows. The remaining capital sustains the price. We should monitor this area - if it’s broken down, BTC could slide down. Set protections.
$19882.81 is still a battleground. Only by taking hold of it could it reach neutral or the movement is still bearish.
The market expected interest rate hike in November: 75bp(78.4%),50bp(21.6%)