Hey, traders. After FTX, Bitcoin price had moved a lot. Let's check the chart quickly.
We can see 1. the box pattern had extended. 2. the resistance on 18000.00 and 21500.00 3. the support on 14000.00
We should check Wendnesday - China Manufacturing PMI, German German Unemployment Change, EU CPI , US ADP Nonfarm Employment Change, US 3Q GDP, US JOLTs Job Openings, US Pending Home Sales, Fed Chair Powell Speaks Thursday - China Caixin Manufacturing PMI, German Manufacturing PMI, Britain Manufacturing PMI, Core PCE Price Index, US Initial Jobless Claims, ISM Manufacturing PMI Friday - ECB President Lagarde Speaks, US Nonfarm Payrolls, US Unemployment Rate
We can expect 1. the price drops from the reistance on 18000.00 2. rebounding from 14000.00 3. goes up to 21500.00 by breaking the reistance on 18000.00
Bitcoin price is going upward but it doesn't have factor for that movement. So, for now, it seems like temporary price rising. If the price comes to 18000.00, it will be a chance for the short position to 14000.00. And, if the prices drops to 14000.00, we may consider the long position. Let's see if we can have good price for trading.
Thank you for reading and hope this insight was helpful.
I think that the range of possible price movements is not allocated quite correctly, it is worth checking them through the volume profile. But in general, I support the idea, the description is detailed, the technical analysis is qualitative. Thank you for your work!