In last $BTC update we analyzed charts and reached some key price points from where we can decide next expected move of BTC. While in today analysis we will focus mainly on fundamental analysis as MT.Gox and Black Rock related news come out. And then we will take an overview a about technical analysis . So, let's start with fundamental :-
๐๐ช๐ฃ๐๐๐ข๐๐ฃ๐ฉ๐๐ก ๐ผ๐ฃ๐๐ก๐ฎ๐จ๐๐จ:-
๐ธ According to fundamental analysis a new fud is created. One of #Mt.GOX wAllet move some BTC like 250 BTC or some different indicating another distribution will start. On the other hand FTX repayment will start from upcoming next week.
" ๐จ In under 2 weeks, FTX will start redistributing $16B to creditors. Thatโs enough to buy 250,000 $BTC at current prices "
๐ธ On the other hand #BlackRockโฉ bought another 500 BTC in last 24 hours after a long time. That is bullish point for market. MT Gox and FTX repayment are looking like a FUD . Maybe there is a chance they manipulate market in first week of OCTOBER and then upward move. Must read my Personal opinion before taking any action that is given in last.
๐๐๐๐๐ฃ๐๐๐๐ก ๐ผ๐ฃ๐๐ก๐ฎ๐จ๐๐จ:-
๐ธ According to technical analysis #BTCโ is in range of $65K and $63K. Also forming a rising wedge that is bearish sign . But it will be before time to say it will pump or dump from here. So, Wait patiencely until it come out from range of $62K or $65,200 by 1D closing down or above respectively .
๐๐๐ง๐จ๐ค๐ฃ๐๐ก ๐๐ฅ๐๐ฃ๐๐ค๐ฃ:-
๐ธ Personally I will take 30 - 40% portfolio out from market tomorrow or next day. If market dip in first week of October we will enter with these USDT or if market bounce we will enter again . It is part of my money management .
Note: Do Your Own Research before taking any financial decision . If you find this post helpful then don't forget to like post and comment what your are planning . Follow @MU_Traders for more updates .
