DAILY MARKET UPDATE — 16/10
BTC FAILS AT THE 80K RESISTANCE FOR THE THIRD TIME
BTC:
+ Daily timeframe: Yesterday, 15/10, the actual core PPI data came in significantly hotter than expected and than previous readings, continuing to push BTC down to 79.732k. Buying pressure came in at this level, with dip buyers driving BTC back up. BTC closed the day at 82.195k, up +0.68% for the day, equivalent to a gain of +554, on trading volume significantly above the 20-session average.
- RSI: Currently moving around 48 and trending upward.
- MACD: Approaching the zero line, with the histogram becoming less negative.
BTC TRADING SCENARIOS FOR 16/10
- Scenario 1: Consider going LONG in the 81.5k–81.7k range; target 83k–84k.
- Scenario 2: Consider going SHORT in the 83.8k–84.2k range; target 82.5k–83k.
* Gold (XAU): Following the PPI news, gold recovered well to 4177 and closed the day around 4170, up +1.61%.
* Oil: Oil recovered to 96.7U, as forecast yesterday, and closed at 96.139, up +2.26%. Oil may retest the 94U area before moving back up toward 95–98U.
GOLD TRADING SCENARIO FOR 16/10
• Consider going LONG on gold in the 4135–4140 range, with a target of 4200–4220; alternatively, consider going SHORT in the 4220–4230 range, with a target of 4165–4180. >> For BTC scenarios, SL: 500–700 points from entry (depending on position and leverage).
"Prices best suited to current market conditions"
"This bulletin is based on the Team's current data and is intended to provide information for your reference. It is not investment advice."
Wishing everyone an energetic week. Trade calmly, safely, and with discipline!!! @All
BTC FAILS AT THE 80K RESISTANCE FOR THE THIRD TIME
BTC:
+ Daily timeframe: Yesterday, 15/10, the actual core PPI data came in significantly hotter than expected and than previous readings, continuing to push BTC down to 79.732k. Buying pressure came in at this level, with dip buyers driving BTC back up. BTC closed the day at 82.195k, up +0.68% for the day, equivalent to a gain of +554, on trading volume significantly above the 20-session average.
- RSI: Currently moving around 48 and trending upward.
- MACD: Approaching the zero line, with the histogram becoming less negative.
BTC TRADING SCENARIOS FOR 16/10
- Scenario 1: Consider going LONG in the 81.5k–81.7k range; target 83k–84k.
- Scenario 2: Consider going SHORT in the 83.8k–84.2k range; target 82.5k–83k.
* Gold (XAU): Following the PPI news, gold recovered well to 4177 and closed the day around 4170, up +1.61%.
* Oil: Oil recovered to 96.7U, as forecast yesterday, and closed at 96.139, up +2.26%. Oil may retest the 94U area before moving back up toward 95–98U.
GOLD TRADING SCENARIO FOR 16/10
• Consider going LONG on gold in the 4135–4140 range, with a target of 4200–4220; alternatively, consider going SHORT in the 4220–4230 range, with a target of 4165–4180. >> For BTC scenarios, SL: 500–700 points from entry (depending on position and leverage).
"Prices best suited to current market conditions"
"This bulletin is based on the Team's current data and is intended to provide information for your reference. It is not investment advice."
Wishing everyone an energetic week. Trade calmly, safely, and with discipline!!! @All