We are starting another day in the land of #BTC and this time with some decent recovery in prices. Yesterday we made the first attack in the $88K region, but we did not pass (and no one expected us to do so on Sunday).
Today we are making a retreat to $85.5K and that is good, it seems we are building a new jump to $88K, and this time it is expected that we will pass from there. This will put us on the way to $98K, which is our area of greatest interest; in my opinion, that is where we should have a definition of the current deadlock between BULLS and BEARS.
At the current moment, we have the EMA50 (4H), acting as resistance to the price, but if we look at the RSI and other indicators, we will see that we still have good room to continue rising.
This week will be quite busy, since we have a strong Economic agenda in the USA, so certainly the positive or negative results will be used by buyers and sellers to initiate the next movement, make sure to stay alert.
It seems we are starting to have greater CLARITY from many good analysts that the 4-year cycle of the Crypto market has been completely broken and a new model is forming from this current cycle.
We have recently seen that the consensus within the FED about interest rates no longer exists; there is a division there, some are already tired of Powell's madness, others still endure... this December meeting is highly anticipated. According to some surveys, we have four votes in favor of a rate cut, with six against, but a tie is not ruled out since some others are thinking of switching sides.
A rate cut and a clear signal of good steps would give the chance of a recovery in the markets and that would put us at $130K in Bitcoin. We need this for a sustainable and broad recovery, since what we have now is just large buyers waiting for a catalyst.
The market always rewards those who have conviction and patience!
Today we are making a retreat to $85.5K and that is good, it seems we are building a new jump to $88K, and this time it is expected that we will pass from there. This will put us on the way to $98K, which is our area of greatest interest; in my opinion, that is where we should have a definition of the current deadlock between BULLS and BEARS.
At the current moment, we have the EMA50 (4H), acting as resistance to the price, but if we look at the RSI and other indicators, we will see that we still have good room to continue rising.
This week will be quite busy, since we have a strong Economic agenda in the USA, so certainly the positive or negative results will be used by buyers and sellers to initiate the next movement, make sure to stay alert.
It seems we are starting to have greater CLARITY from many good analysts that the 4-year cycle of the Crypto market has been completely broken and a new model is forming from this current cycle.
We have recently seen that the consensus within the FED about interest rates no longer exists; there is a division there, some are already tired of Powell's madness, others still endure... this December meeting is highly anticipated. According to some surveys, we have four votes in favor of a rate cut, with six against, but a tie is not ruled out since some others are thinking of switching sides.
A rate cut and a clear signal of good steps would give the chance of a recovery in the markets and that would put us at $130K in Bitcoin. We need this for a sustainable and broad recovery, since what we have now is just large buyers waiting for a catalyst.
The market always rewards those who have conviction and patience!