BitCoin Insight

27 בספט׳ 2022

Hey, traders. Glad to share our ideas again.
There were big events last week and stock market had been dropping.
Let's check how's Bitcoin price and what we can do.

We can see
1. the short-term asceding channel had been broken.
2. the price is following the long-term descending channel.
3. the price have reached top of long-term descending channel.

We should check
Tuesday - Fed Chair Powell Speaks, ECB President Lagarde Speaks, CB Consumer Confidence (Sep), New Home Sales (Aug)
Wednesday - Fed Chair Powell Speaks, ECB President Lagarde Speaks
Thursday - US GDP (QoQ) (Q2), Canada GDP (MoM) (Jul)
Friday - Britain GDP (QoQ), Core PCE Price Index (YoY) (Aug)

We can expect
1. the price falling toward 18000 by resistance on 20800.00 which is top of the descending channel.
2. the dropping to 14000.00 which is middle line of the descending channel by breaking support on 18000.00
3. jumping up by breaking top of descedning channel.

It was a short-term price rising for today. That's just because low-priced repulsive acquisitions.
Without rational reason, it won't be easy to break the top line of the descending channel.
We are expecting the price dropping to 14000.00 and chance to have short postion soon.
Let's see if Bitcoin price can break the resistance or not.

Thank you for reading and hope this insight was helpful.

Analyzed by Han.