$BTC Technical & Fundamental Analysis; Will market crash to $56K?
In our last 2-3 updates we are mentioning 2 things forcely. Book 30% profits at $67K and October first 2-4 days will be bearish . Personally we also waiting for $67K to book 30% profits but market take dip from $66,500. It's ok we are still in profit bcz we bought at $56K level. Now let's discuss next expected move of BTC.
๐. ๐๐๐ป๐ฑ๐ฎ๐บ๐ฒ๐ป๐๐ฎ๐น ๐๐ป๐ฎ๐น๐๐๐ถ๐
๐ธJerome Powell hint further rate cuts but said we have not planned any rate cut yet. Means if data comes positive then they can cut more rates.
๐ธOn of FED member said before speech that they are looking for 0.5 rate cut in November .
๐ธIsrael started ground raid in Hezbollah.
๐ธFTX started repayment .
Overall fundamental is bearish to an extent so we are not expecting any bigger upward move till tomorrow from 3 Oct maybe some upward move.
๐. ๐๐๐๐ก๐ง๐ข๐๐๐ฅ ๐๐ป๐ฎ๐น๐๐๐ถ๐
๐ธ According to technical analysis we are at liquidity support at $62,400 - $63,200. So, we can expect a bounce from here after 24 hour + consolidation . And this time upward move targets will be:-
โข $67,400
โข $69,900
๐. ๐๐๐ซ๐ฌ๐จ๐ง๐๐ฅ ๐๐ฉ๐ข๐ง๐ข๐จ๐ง
๐ธ According to my personal opinion #BTCโ will hold above mentioned support area and consolidate till tomorrow and from 3 Oct we can see an upward move and till 15 OCT we can see 70K+.
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