BTC Weekly - Local pullback is possible. Then fall again
As I told you on Friday, Huge drop happened
Now lets look at the current picture.
Why Drop happened?
FED Chairmen Pawell announced that they will continue to raise interest rates. That caused fear across the market and all financial markets fell.
Right now, we've been falling for 3 straight days. A lot of bears already opened positions, and a lot of people getting FOMO for shorts. Bulls were trapped a bunch of times and I would expect some pullback to make life harder for bears.
- If casino doesn't let the players win, they won't come back.
TA
Currently we formed nice trendline and touched it 4 times already which is solid bullish signal.
Also we have volume at bottom, meaning that we came to zone of interest and somebody is holding the price. Today we can see movement up.
Important Economic Events ahead:
Thursday:
🇺🇸 Initial Jobless Claims
🇺🇸 Manufacturing PMI
Friday:
🇺🇸 Non-Farm payrolls
🇺🇸 Unemployment rate
What do you think of this idea? What is your opinion? Share it in the comments📄🖌
If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
Now lets look at the current picture.
Why Drop happened?
FED Chairmen Pawell announced that they will continue to raise interest rates. That caused fear across the market and all financial markets fell.
Right now, we've been falling for 3 straight days. A lot of bears already opened positions, and a lot of people getting FOMO for shorts. Bulls were trapped a bunch of times and I would expect some pullback to make life harder for bears.
- If casino doesn't let the players win, they won't come back.
TA
Currently we formed nice trendline and touched it 4 times already which is solid bullish signal.
Also we have volume at bottom, meaning that we came to zone of interest and somebody is holding the price. Today we can see movement up.
Important Economic Events ahead:
Thursday:
🇺🇸 Initial Jobless Claims
🇺🇸 Manufacturing PMI
Friday:
🇺🇸 Non-Farm payrolls
🇺🇸 Unemployment rate
What do you think of this idea? What is your opinion? Share it in the comments📄🖌
If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones
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👑 Приєднуйтесь до крипто спільноти 🇺🇦☝️
Registration for the course "Scalping for Beginners" link in bio
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