Analysis $BTC 11/14/2024

#BTC, still within expectations, we had a rejection yesterday and fell to $87,800, a little below what I initially expected, but we are still doing well and in any case we did not have significant movements because of the IPP data today. The decline is more related to the movement of some BTCs from the Bhutan Government Wallet to Binance!

I don't see much of a problem with this, especially because this wallet has never sold any Bitcoin, and I don't think they will start now. Of course, this movement creates reasons for big accounts to start with crazy narratives just looking for engagement in their posts, after all, we all know that at this time, pessimistic posts always get more attention, after all, it goes against the sentiment of the vast majority, unfortunately.

We are not looking for engagement here, and even less posts aimed at that, so let's move on.

Even though we had a -2.50% drop in Bitcoin, you can see that the altcoins were still very strong. Of course, there were some that fell -6%, but most of them only fell -2%, and others remained positive, which shows some strength against Bitcoin.

In my opinion, the PPI data came out a little differently than most would like, but it was not a problem for the market. Even though Powell is still speaking today, I think we will start off well tomorrow, and the altcoins should start to recover.

There is considerable liquidity above us around $95K, I think we could attack those prices... and of course this would trap several SHORTs and liquidate many others.

The spot buyers here are supporting the PERPs and we are seeing the RSI getting good at 58.27 (4h), it seems good to me... and I don't see YET where we can form a sideways channel to cool down, perhaps between $87,800/$98K... it will become clearer soon.

STAY SAFE!

* If you have any questions, don't hesitate, go to my INSTA (it's in the fixed image of my profile here), call me and ask your question.