Dear friends, Breaking through the resistance level of 32k (monthly resistance level) has led to an impressive price increase for the product over the past 17 months. The range of 30k to 32k will now serve as a support/buy zone until it is broken for the next price increase towards 40k!
At the time of writing, the cryptocurrency market is trading below the 35,000 USD barrier. The upward trend is strong as it consolidates at a high level with stable trading activity on the daily timeframe.
I want to emphasize that the Bitcoin market may experience some declines as the US Bureau of Economic Analysis (BEA) is expected to release Personal Consumption Expenditures (PCE) data today. This data is a key measure of inflation by the Federal Reserve and is expected to increase during this period. Due to this reason, it is anticipated that the price decline will reach 31,500 USD and this downward trend will continue until any positive developments help the price rebound. The next support level for this decline is at 29,500 USD. What are your thoughts on this issue? Do you agree with me?
At the time of writing, the cryptocurrency market is trading below the 35,000 USD barrier. The upward trend is strong as it consolidates at a high level with stable trading activity on the daily timeframe.
I want to emphasize that the Bitcoin market may experience some declines as the US Bureau of Economic Analysis (BEA) is expected to release Personal Consumption Expenditures (PCE) data today. This data is a key measure of inflation by the Federal Reserve and is expected to increase during this period. Due to this reason, it is anticipated that the price decline will reach 31,500 USD and this downward trend will continue until any positive developments help the price rebound. The next support level for this decline is at 29,500 USD. What are your thoughts on this issue? Do you agree with me?
Trade active
Comment:
Reference idea of the day
Comment:
"The majority of investors maintain a positive attitude toward the market, especially the information that an ETF can be approved by the SEC will be a big turning point for the entire cryptocurrency market."
Comment:
New update
