Analysis ahead of tonight’s CPI report and the market:
- 1. Last week, I predicted BTC would drop to 73.5k trong tuần này. Right now, BTC will spend another 2–3 days moving sideways in this area before dumping hard, and it could climb to the 77–78k range (an area to watch for another short setup).
- 2. Regarding the CPI report, last month’s very poor reading caused BTC to dump from 85k to 79k. But this month, the market is expecting signs of cooling. Still, we should act according to two plans: + If it comes in above 0.3%, exceeding forecasts, the Fed could raise interest rates by another 50 basis points in December, causing the market to dump hard. + If it holds at 0.3% or edges down slightly, the market could rise a little (BTC could reach 77–78k, as I expect).
- 3. As for altcoins (ETH, ZEC, etc.), selling pressure is currently overwhelmingly dominant. The gap between buying and selling volume this year has fallen to its lowest level ever. Smart money keeps selling off. Until BTC bottoms, many coins could still drop by half.
CHILL BEFORE THE NEWS!!
#FollowFOMC
- 1. Last week, I predicted BTC would drop to 73.5k trong tuần này. Right now, BTC will spend another 2–3 days moving sideways in this area before dumping hard, and it could climb to the 77–78k range (an area to watch for another short setup).
- 2. Regarding the CPI report, last month’s very poor reading caused BTC to dump from 85k to 79k. But this month, the market is expecting signs of cooling. Still, we should act according to two plans: + If it comes in above 0.3%, exceeding forecasts, the Fed could raise interest rates by another 50 basis points in December, causing the market to dump hard. + If it holds at 0.3% or edges down slightly, the market could rise a little (BTC could reach 77–78k, as I expect).
- 3. As for altcoins (ETH, ZEC, etc.), selling pressure is currently overwhelmingly dominant. The gap between buying and selling volume this year has fallen to its lowest level ever. Smart money keeps selling off. Until BTC bottoms, many coins could still drop by half.
CHILL BEFORE THE NEWS!!
#FollowFOMC
