Today's economic data basically met expectations, including something like PCE 3.1. In that case, Bitcoin may stabilize around 8, although I am bearish, it won’t drop that quickly; it will likely consolidate for a while before going down.
According to my own analysis, today or tomorrow, Bitcoin will likely break the previous high around 818. If it is strong, it may directly push to 827 before falling again; or it may rise to the 818-810 range, pull back to around 795, then test 827 again, and then decline.
My overall strategy recently is: as long as it drops to around 800-795, I will go long and also add spot Bitcoin. As long as it can reach around 827, I will heavily short and take profit in the 790-780 range.
Now Bitcoin’s trend has already formed an upward pattern. My short positions have turned into profitable long positions, and I’ll hold a bit longer to see whether the long positions can reach the target.
There is a high probability of a Fed rate hike in December. A rate hike may cause a drop, but we need to observe the economic data and global capital flows over the next two months. If GDP remains strong, a rate hike may instead push Bitcoin up to around 100,000.
$BTC
According to my own analysis, today or tomorrow, Bitcoin will likely break the previous high around 818. If it is strong, it may directly push to 827 before falling again; or it may rise to the 818-810 range, pull back to around 795, then test 827 again, and then decline.
My overall strategy recently is: as long as it drops to around 800-795, I will go long and also add spot Bitcoin. As long as it can reach around 827, I will heavily short and take profit in the 790-780 range.
Now Bitcoin’s trend has already formed an upward pattern. My short positions have turned into profitable long positions, and I’ll hold a bit longer to see whether the long positions can reach the target.
There is a high probability of a Fed rate hike in December. A rate hike may cause a drop, but we need to observe the economic data and global capital flows over the next two months. If GDP remains strong, a rate hike may instead push Bitcoin up to around 100,000.
$BTC
