Hey, traders. Because FTX bankruptcy, Bitcoin price had collapsed.
Let's see how was the price movement and check other issues.
We can see
1. 18000 ~ 25000 box pattern had broken.
2. resistance on 18000.00
3. support on 10000.00 and 14000.00
We should check
Wednesday - Britain CPI , US core Retail Sales, US Retail Sales, BOE Gov Bailey Speaks, Britain Inflation Report Hearings, ECB President Lagarde Speaks, Crude Oil Inventories
Thursday - Euro CPI , Britain Autumn Forecast Statement, US Building Permits, US Initial Jobless Claims, US Philadelphia Fed Manufacturing Index
Friday - Britain Retail Sales, ECB President Lagarde Speaks, Existing Home Sales
We can expect
1. dropping to 14000.00 which is a support line and jump up to 18000.00
2. the price keep dropping to 10000.00 which is bottom support line.
For now, we are not thinking about long position for long-term. we will keep our selling strategy and hold the short position to 14000.00.
If you are waiting to have short position, it is favorable to have it at the 18000.00.
To consider the long position, the price has to break resistance on 18000.00 or drops to 14000.00 which is middle support line.
Let's see if we can keep our short position to 14000.00
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Let's see how was the price movement and check other issues.
We can see
1. 18000 ~ 25000 box pattern had broken.
2. resistance on 18000.00
3. support on 10000.00 and 14000.00
We should check
Wednesday - Britain CPI , US core Retail Sales, US Retail Sales, BOE Gov Bailey Speaks, Britain Inflation Report Hearings, ECB President Lagarde Speaks, Crude Oil Inventories
Thursday - Euro CPI , Britain Autumn Forecast Statement, US Building Permits, US Initial Jobless Claims, US Philadelphia Fed Manufacturing Index
Friday - Britain Retail Sales, ECB President Lagarde Speaks, Existing Home Sales
We can expect
1. dropping to 14000.00 which is a support line and jump up to 18000.00
2. the price keep dropping to 10000.00 which is bottom support line.
For now, we are not thinking about long position for long-term. we will keep our selling strategy and hold the short position to 14000.00.
If you are waiting to have short position, it is favorable to have it at the 18000.00.
To consider the long position, the price has to break resistance on 18000.00 or drops to 14000.00 which is middle support line.
Let's see if we can keep our short position to 14000.00
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
