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Let’s get into the Bitcoin analysis. Unfortunately, I couldn’t post the analysis yesterday, but starting today, it will once again be posted daily as part of our regular routine so you can benefit from it.
⏳ 1-Hour Time Frame
Yesterday, on the 1-Hour chart, Bitcoin made a strong upward move and set a new all-time high at the 124474 zone.
💥 However, today the US Producer Price Index (PPI) was released, showing an unusual figure of 0.9%. This news is very negative for Bitcoin because it means the Federal Reserve may not be able to lower interest rates, which is bearish for Bitcoin.
⭐ This negative news caused Bitcoin, after the fake breakout of the 122733 zone, to drop, and the price has now fallen back to the 117000 zone. The momentum of this drop has been quite strong.
⚡️ If the 117000 zone breaks, the probability of a decline toward the 110000 zone will increase significantly because a very important resistance has been faked out, which has weakened buyer strength considerably.
🔍 In my opinion, the likelihood of this happening is low because this large candle we see was triggered by news, and the effects of news are more important in the long term rather than immediately at the time of release. However, the news that was released is fundamentally negative for Bitcoin in the long run and could even be the starting point of a bearish trend for Bitcoin.
✔️ So, from a fundamental perspective, it’s better to wait for Powell’s September session.
📊 But if the 117000 zone holds as support, we can consider opening long positions when suitable triggers are activated because the trend is still bullish, and the price could retest the previous high again.
❌ Disclaimer ❌
Trading futures is highly risky and dangerous. If you're not an expert, these triggers may not be suitable for you. You should first learn risk and capital management. You can also use the educational content from this channel.
Finally, these triggers reflect my personal opinions on price action, and the market may move completely against this analysis. So, do your own research before opening any position.
Let’s get into the Bitcoin analysis. Unfortunately, I couldn’t post the analysis yesterday, but starting today, it will once again be posted daily as part of our regular routine so you can benefit from it.
⏳ 1-Hour Time Frame
Yesterday, on the 1-Hour chart, Bitcoin made a strong upward move and set a new all-time high at the 124474 zone.
💥 However, today the US Producer Price Index (PPI) was released, showing an unusual figure of 0.9%. This news is very negative for Bitcoin because it means the Federal Reserve may not be able to lower interest rates, which is bearish for Bitcoin.
⭐ This negative news caused Bitcoin, after the fake breakout of the 122733 zone, to drop, and the price has now fallen back to the 117000 zone. The momentum of this drop has been quite strong.
⚡️ If the 117000 zone breaks, the probability of a decline toward the 110000 zone will increase significantly because a very important resistance has been faked out, which has weakened buyer strength considerably.
🔍 In my opinion, the likelihood of this happening is low because this large candle we see was triggered by news, and the effects of news are more important in the long term rather than immediately at the time of release. However, the news that was released is fundamentally negative for Bitcoin in the long run and could even be the starting point of a bearish trend for Bitcoin.
✔️ So, from a fundamental perspective, it’s better to wait for Powell’s September session.
📊 But if the 117000 zone holds as support, we can consider opening long positions when suitable triggers are activated because the trend is still bullish, and the price could retest the previous high again.
❌ Disclaimer ❌
Trading futures is highly risky and dangerous. If you're not an expert, these triggers may not be suitable for you. You should first learn risk and capital management. You can also use the educational content from this channel.
Finally, these triggers reflect my personal opinions on price action, and the market may move completely against this analysis. So, do your own research before opening any position.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.