Alhamdulillah ❤️,
As expected $BTC consolidate for 12 hours between $57,000 - $58,500 and after that hit our first t.p $59,000 and almost hit 2nd t.p $60,000. It is past now let's analyze graph for future expectations . Our post will be divided in three parts:
⓵ Fundamental Analysis (Liquidity , News)
⓶ Technical Analysis ( Chart Pattern , etc)
⓷ My Personal Point Of View
🔸So, let's start with Fundamentals. If we look on news Microstrategy bought more #BTC☀ of worth $1.18B+. Indicating buy the dip by bigger companies . On SEP 18 #FedRateCut expected by 0.5% that will pump BTC almost 10%. So, next 5-7 days are looking Bullish fundamentally . On the same side if we look on liquidation heat map then it clearly shown that we have major nearest liquidation at $60,500 and $61,900. So, results of fundamental analysis are Bullish and we will see pump in upcoming days fundamentally .
🔸Now let's discuss about technical analysis . According to technical analysis #Bitcoin❗ formed Inverse Head and Shoulder pattern and played out it successfully . And now currently trading at resistance . A key level here is that if BTC consolidate here and close next 4-6 4H candle above $59K then we can see BTC at $61,800 in next 3 days. Expecting not much bigger moves on weekend due to of low volume . So, till Monday BTC can consolidate between $59K - $60K and after that upward movement till $61,800 is expected .
🔸 Personal POV: According to my personal opinion BTC will consolidate between $59K - $60K and then upward move till $61,800 is expected . But only during weekend a wick till $57K can be created just wick no retracement (Consolidate or time taken). Just short term wick can be created. once weekend over may we don't see it and only upward move .
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