Market Overview and Bitcoin Price Analysis Short-term (12/12)
BTC Technical Analysis
Short Term BTC Plan
BTC broke the H4 trendline, short-term rebounded to backtest the trendline + resistance. Details of resistance, trendline in the picture.
📈Long: Stop all Long bets
📉Short: 17050 - 17100
TP: 16650 - 16540
SL: 17300
In addition, you can Short altcoins according to the BTC plan
Market Overview
Bitcoin is trading down at $16,900, Ethereum is also down 2.9% over the past week to just under $1,250. Crypto-related stocks were in the red throughout the past week, with Coinbase and Silvergate alone recording double-digit declines.
The crypto market is experiencing a downside correction ahead of the latest US inflation data and the Fed’s latest interest rate decision. The market gloom sent shares of crypto companies down throughout the week.
Bitcoin price for the past 7 days failed to break the resistance of $17,500, the coin was held tightly by the bears in the range of 17,300 – 16,700 USD. Similar to the top altcoins like ETH, BNB, XRP, DOGE… are also not very positive when they all fell from 2 to 10% in the past 7 days.
The Federal Open Market Committee (FOMC) is expected to announce a rate increase of 50 basis points on December 14 after Fed Chairman Jerome Powell said it was prepared to cut rates at the next meeting. meeting on the 13th and 14th.
If so, the increase would put the Fed's target interest rate range between 4.25% and 4.5%, the highest since December 2007. The CME's FedWatch tool, which specializes in analysis of contract pricing data futures – shows a probability of a 50 basis point increase of 78%.
Short Term BTC Plan
BTC broke the H4 trendline, short-term rebounded to backtest the trendline + resistance. Details of resistance, trendline in the picture.
📈Long: Stop all Long bets
📉Short: 17050 - 17100
TP: 16650 - 16540
SL: 17300
In addition, you can Short altcoins according to the BTC plan
Market Overview
Bitcoin is trading down at $16,900, Ethereum is also down 2.9% over the past week to just under $1,250. Crypto-related stocks were in the red throughout the past week, with Coinbase and Silvergate alone recording double-digit declines.
The crypto market is experiencing a downside correction ahead of the latest US inflation data and the Fed’s latest interest rate decision. The market gloom sent shares of crypto companies down throughout the week.
Bitcoin price for the past 7 days failed to break the resistance of $17,500, the coin was held tightly by the bears in the range of 17,300 – 16,700 USD. Similar to the top altcoins like ETH, BNB, XRP, DOGE… are also not very positive when they all fell from 2 to 10% in the past 7 days.
The Federal Open Market Committee (FOMC) is expected to announce a rate increase of 50 basis points on December 14 after Fed Chairman Jerome Powell said it was prepared to cut rates at the next meeting. meeting on the 13th and 14th.
If so, the increase would put the Fed's target interest rate range between 4.25% and 4.5%, the highest since December 2007. The CME's FedWatch tool, which specializes in analysis of contract pricing data futures – shows a probability of a 50 basis point increase of 78%.