BYBIT:BTCUSD   BTCUSD Perpetual Futures Contract
Hello friends
Today I want to take a look at the BTCUSD by ByBit Crypto Exchange

As I said in a previous BTCUSD post , we formed a falling wedge which we are likely to break up,
but it will be a false break.
It happened as I said, only grew stronger than I predicted
We can see - the crazy movement of $ 3,000 upwards and the crazy volumes that came from USDT ( trading volume around 60bln$ at this day) which have long-term problems with regulators.

The second news that many are discussing is Chinese president Xi support blockchain tech dev in China etc
Today the news came out
Chinese Central Bank will launch digital currency called DCEP.
To be tested and onboarded with commercial banks first.

Therefore, many Chinese projects have made a move up.
and these media explained why the movement of bitcoin up.

But I want to say my opinion,
Such news is manipulative, like most news from china
But in the long run it will bring results.

   Chinese blockchain projects did not stop working and continue to work regardless of the government statement.
When implemented for use is another question. And I won’t answer this question :)
But statistics show that
23rd of requests in Wechat
blckchain / bitcoin - 777k / 572k
the 25th of October
blckchain / bitcoin - 9.2 million / 1.3 million

 I am sure that a lot of people will discuss about this news.
And this news will attract new players to the market. Since 1.4 billion live in China
And exchanges need to be prepared to withstand server overload due to the introduction of algorithmic bots and the arrival of new users that are increasing
on googletrends and tradingview requests

But at the same time, remembering December 2017, when everyone on TV said that "Bitcoin go to the moon" and that after what happened, you all know....

I still believe my previous analysis. After breaking through, we should gain a foothold over the support line.
or to test support in the area of 8600-8200. And for me this is now the main question
we are above these levels or not, but most likely we will continue to move inside the black triangle. There should be a correction, the market after this movement has not changed much.
So we will observe the situation.

More charts in the description

Comment: A lot of people open longs and waiting for break up this triangle

fear and greed index 54
My recomendation don't be greedy;)
Trade active
Comment: We will go to 8800 first and maybe we can go to support black line
Comment: CME chart
Need close this gap
so price can do this in november.
i think 9000 is daily 200ma, and as you see the daily cloud price tries to go horizontal, to avoid the situation of breaking the channel support. since daily stoch is still in golden cross situation, it would go sideways for 1~2week. if it surpasses the 4hr baseline at 9250 area,now, it could give pump to 9700 9800 zone, but still go down to 8k areas. because in cloudwise, going to 8500 zone right now is dangerous to be rejected under 200ma, and 50ma daily, it would have no chance to bound hard in that pattern.
November has always been pregnant with great events.
What will happen in November?
Looks good
+1 Reply
waiting something like this
+2 Reply
We are now bullish on Bitcoin.

How Does Bitcoin Make It To $33,333? | 6 Signals
+2 Reply
I'm thinking $8,000 to $7,000.
+2 Reply
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