Alhamdulillah ❤️,
As predicted yesterday in morning CPI data +ve $BTC corrected till $55,500 area an showed bounce . Our t.p was $59K which is almost achieved . Here is next move of #bitcoin☀️ . Assure you read full post completely to understand better .
🔸 First we will discuss fundamental other factors and then technical and at last there will be mine opinion. According to fundamental no such bad news yet that cause BTC dump. Only one event that is ahead and every one looking on it is #FedRateCut decision on 18 SEPTEMBER . Most probability that FED cut 0.25 - 0.5% rate and it will give ignite to #BTC☀ and Bull 🐂 Run . We can expect UpTo 10% pump in BTC on that day. Closing thoughts are that fundamentally we are bullish for next 5 days .
🔸 Now let's discuss technical . According to technical analysis BTC is forming Inverse Head & Shoulder pattern that is bullish sign technically and we can see $59K and $60K level in two days. But on the same side recent price movement in short time frame show some exceptional price action . According to which we can retrace $56.5K area untill any bad news not come. But if any bad news come then they will take it's advantage and grab Liquidity of $54K region . Closing thoughts are that technically we can retrace till $57K and then $59K and $60K is next stop.
🔸My POV: According to my opinion BTC will show some consolation between $57K and $58,500 for some more time (8-12 hour) and then $59K , $60K is next stop. Not much bearish sentiment .
🚨Note: #Dyor2024 Before taking any financial decision in case of any lose #MU_Traders will be not responsible . Thanks 🙏 for reading .
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