Hey traders. Thank you for the boosts and comment.
Today's chart is Bitcoin. Let's check it quickly.
We can see
1. the descending channel had broken.
2. the box pattern.
3. the resistance on 17800.00.
We should check
Tuesday - Britain Construction PMI (Nov), CAD Ivey PMI (Nov), EIA Short-Term Energy Outlook
Wednesday - BoC Interest Rate Decision, Crude Oil Inventories
Thursday - GDP (QoQ) (Q3), ECB President Lagarde Speaks, US Initial Jobless Claims
Friday - US PPI (MoM) (Nov)
We can expect
1. the price breaks the resistance on 17800 and upward movement to 21600.
2. the price dropping to 14000 by the resistance on 17800.
One week left till FOMC meeting and market is focusing on it. This factor will affect the market until FOMC meeting.
Yesterday, dollar price had risen by result of ISM Non-Manufacturing PMI. And, We have US PPI which is more effective on Friday.
We have to keep eye on it.
The chart still shows us Short position is more favorable until the price breaks the resistance on 17800.
(If the price breaks the resistance on 17800, we should change our short strategy.)
Let's see if we can have our short position and hold it.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Today's chart is Bitcoin. Let's check it quickly.
We can see
1. the descending channel had broken.
2. the box pattern.
3. the resistance on 17800.00.
We should check
Tuesday - Britain Construction PMI (Nov), CAD Ivey PMI (Nov), EIA Short-Term Energy Outlook
Wednesday - BoC Interest Rate Decision, Crude Oil Inventories
Thursday - GDP (QoQ) (Q3), ECB President Lagarde Speaks, US Initial Jobless Claims
Friday - US PPI (MoM) (Nov)
We can expect
1. the price breaks the resistance on 17800 and upward movement to 21600.
2. the price dropping to 14000 by the resistance on 17800.
One week left till FOMC meeting and market is focusing on it. This factor will affect the market until FOMC meeting.
Yesterday, dollar price had risen by result of ISM Non-Manufacturing PMI. And, We have US PPI which is more effective on Friday.
We have to keep eye on it.
The chart still shows us Short position is more favorable until the price breaks the resistance on 17800.
(If the price breaks the resistance on 17800, we should change our short strategy.)
Let's see if we can have our short position and hold it.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
