Today we will consider the local situation on the BTCUSDT trading pair And we will offer you a trade that has every chance to work out over the weekend.
Last week we published an idea with a possible BTCUSD price movement, it is still relevant, and we believe that it works perfectly During the week that is coming to an end, the BTC price slightly touched the purchase zone and buyers organized a rather aggressive buyback (in the context of the current passive market)
Growth Bitcoin price for the week of +7% seems not a bad result, but it is much better that buyers managed to break the first portion of the short stops that were hiding above $17000
The next step is to hunt for the second portion of the short stops hiding in the marked zone above $18000
Today, there may be increased volatility in the market, because unemployment figures in the US are due to be released. It is expected that they will be an additional positive factor for growth in the markets in conjunction with the available data:
DXY - the dollar index began to fall actively (and has prospects for further decline) This means that the value of the dollar is falling, and it needs to be invested in the economy, and in business. So that the value of monetary assets does not depreciate, but generates earnings. The last time such dynamics of the fall was in 2020-2021, and the crypto market at that time was experiencing a DeFi boom and the overall growth of most cryptocurrencies.
S&P 500 - is steadily growing as a result of investing the dollar in the most powerful companies that are included in the SP 500 index
Experts estimate the probability at 82% that the Fed rate on 13.12.2022 will increase by +0.50%, and not +0.75% as it was in previous months. Just three weeks ago, this probability was estimated at 60%, and this is already a positive trend
Well, considering all the above facts, we consider it acceptable to try the trade on the following conditions: Entry $16661 Stop $15999 Take profit $18234
Have a nice weekend and profitable trading)
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Trade closed: target reached
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The target is reached, and the stops of the shorters above $18000-182000 are broken. A short-term price correction is possible. Continue will be here: