BREAKING: 🇺🇸 Treasury Secretary Scott Bessent says the US Treasury could work with the SEC & CFTC to advance crypto regulations despite the CLARITY Act’s failure.
Despite the pressure across global markets, Bitcoin has shown strength. But we still need confirmation.
A weekly close above $82K and the 1W 50MA would strengthen the bullish case and signal that bulls are in control.
⚠️ Here's what could drive volatility next week:
Oct 28: FOMC decision The Fed is expected to hold rates, but watch for hints of future rate hikes.
Oct 29: U.S. PCE inflation and GDP data Strong GDP growth with cooling inflation could pump Bitcoin and crypto, while hotter inflation could delay rate cuts and put pressure on risk assets.
Oct 30: Japan unemployment The BOJ is expected to hold rates steady, but any surprise hike could strengthen the yen and trigger volatility across global markets, putting pressure on Crypto.
And what adds to the volatility is that all of this is happening just days before the U.S. midterm elections, and historically, Bitcoin has corrected after every midterm.
🚨 THE NEXT WEEK COULD BE VERY DANGEROUS FOR GLOBAL MARKETS.
Several major events could trigger massive market volatility next week.
MONDAY: U.S. markets reopen after Trump's warning of another strike on Iran. Brent crude oil is already near $117.
TUESDAY: U.S. employment, housing, and consumer confidence data.
WEDNESDAY: FOMC decision and Kevin Warsh press conference. Rates are expected to remain unchanged, but the Fed could hint at future hikes.
THURSDAY: U.S. PCE inflation and GDP data. Inflation is estimated at 3.6%, up from 3.4%, and with rising oil prices, another upward shock could happen.
FRIDAY: Japan unemployment and U.S. wage inflation data.
All this comes just days before the U.S. midterm elections.
Oil is surging, inflation fears are rising, and AI spending concerns are growing.
If inflation comes in hot and the Fed signals more rate hikes, stocks, metals, and crypto could face a major selloff.
The support zone around $0.090–$0.094 was respected, and price is now pushing toward the descending trendline.
A breakout could open the way toward our $0.20 target.
Our plan remains unchanged. Let’s see if the breakout confirms. 🚀
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$ACU is following our expected setup almost perfectly so far. The support zone has been respected, and the potential reversal scenario remains in play.
As anticipated, the next key trigger is a breakout above the descending trendline. Once confirmed, our $0.20 target could be within reach sooner than expected.