$BTC analysis for the coming days: the price of $BTC has fallen due to the CPI news, but there’s still another announcement this month that could make the price drop: a new interest rate hike??? The first interest rate hike was strange because the price of Bitcoin didn’t fall as expected, but that was due to the excessive leverage used by shorts. As I always tell you, the market is always looking to liquidate positions; it feeds on the liquidity created by the market’s excessive leverage. Now, what should we expect on the 28th of this month? Everyone is expecting another interest rate hike, and this time, as with the previous hike, many people have overleveraged on the downside. Now, the opposite is expected: overleveraged positions on the upside—that is, Longs—which could make the price fall. Although short positions are still excessively overleveraged at the moment, there could be another drop. A rise could happen any day in October. In short, there’s still a rise ahead, but you’ll have to wait for the overleveraged Longs to be cleared out. I made a chart showing the drop I calculated. After that point, there should be a rebound, as long as no global catastrophe occurs. The 28th will be crucial for determining the direction the market will take next month.
Follow me so you don’t miss analysis and trading signals.