InvestMate|Bitcoin to the moon

₿ Bitcoin to the moon

₿ Last week was characterised by high volatility from dips to rises

₿ The event that everyone was waiting for was the decision on interest rates which rose to 4%.

₿ Followed by a press conference in which Jerome Powell frightened the markets with a hawkish tone, which caused first a sharp wave of weakening of the dollar and after Powell's words there was a speculative attack on the strengthening of the dollar

₿ The following day, the market had already cooled down and the market went back to discounting the scenario of a weakening dollar in the future and a slow slowing of interest rate hikes

₿ 4 November Non Farm Payrolls performed very well with 261k new jobs created compared to the 200k the market was expecting.

₿ After which we also found out that the unemployment rate which rose to 3.7%

₿ All of these data could have a positive impact on future inflation readings. Which has been falling for over 4 months now

₿ All of the above data are contributing to the slow weakening of the dollar.

₿ Looking at the fact that bitcoin as well as other cryptocurrencies did not fall as drastically when the strength of the dollar surged only informs us of the hidden potential that is in them

₿ Just as I brilliantly predicted previous movements on bitcoin in previous posts:

₿ Yes this time again I believe that the next week for bitcoin could prove to be rich in increases

₿ The levels that bitcoin can reach this week are 22.5k where I find the strong resistance line of 0.618 of the biggest upward impulse after the dips.

₿ Also looking at the fact that we are in a 3rd wave leads me to believe that the current uptrend could last a few weeks and that we will break out new local peaks which would certainly bring a lot of optimism to the cryptocurrency market.

₿ I encourage you to follow Bitcoin and other cryptocurrencies

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