BITCOIN ANALYSIS TODAY (November 11)
Macro Analysis
At the time of writing, Bitcoin trades at around $17,142, up 4.18%. In the last 24 hours, Bitcoin hit a high of $18,199, as low as $16,204.
Less than 24 hours after breaking the 16,000 mark to $15,555, the Bitcoin price bounced by nearly 20%, regaining the $18,000 mark following the upbeat US consumer index (CPI) report last night.
After the collapse of electronic exchange FTX, Bitcoin lost nearly 20% of its value when it fell from a price of 17,900 USD to 15,555 USD in less than 24 hours, hitting the lowest level in 2 years. this.
But this cryptocurrency suddenly reversed to skyrocket, regaining the $18,000 mark within a few hours after the US released data on the CPI. Accordingly, the CPI in the US in October was recorded at 7.7%, lower than the forecast of 7.9% of analysts.
Today, Fear & Greed stat increased from 22/100 to 25/100
BTC Technical Analysis
After the recent strong trending period, BTC will continue to move slowly in the H4 frame, when D1 is entering the accumulation with the inside bar cluster. We will continue to wait for selling from the short supports above.
Currently, BTC price is having a retest of the optical support of $18,000. However, we will not FOMO long order anymore, instead will watch in the small frame of the price to create a reversal to enter a Short/Sell order. The take profit point of this order will be the area of 15,500 USD.
At the time of writing, Bitcoin trades at around $17,142, up 4.18%. In the last 24 hours, Bitcoin hit a high of $18,199, as low as $16,204.
Less than 24 hours after breaking the 16,000 mark to $15,555, the Bitcoin price bounced by nearly 20%, regaining the $18,000 mark following the upbeat US consumer index (CPI) report last night.
After the collapse of electronic exchange FTX, Bitcoin lost nearly 20% of its value when it fell from a price of 17,900 USD to 15,555 USD in less than 24 hours, hitting the lowest level in 2 years. this.
But this cryptocurrency suddenly reversed to skyrocket, regaining the $18,000 mark within a few hours after the US released data on the CPI. Accordingly, the CPI in the US in October was recorded at 7.7%, lower than the forecast of 7.9% of analysts.
Today, Fear & Greed stat increased from 22/100 to 25/100
BTC Technical Analysis
After the recent strong trending period, BTC will continue to move slowly in the H4 frame, when D1 is entering the accumulation with the inside bar cluster. We will continue to wait for selling from the short supports above.
Currently, BTC price is having a retest of the optical support of $18,000. However, we will not FOMO long order anymore, instead will watch in the small frame of the price to create a reversal to enter a Short/Sell order. The take profit point of this order will be the area of 15,500 USD.