In last $BTC update we mentioned $73,500 area as a resistance and t.p that hit successfully and also worked as resistance perfectly. Here is next expected move of #BTC☀
One thing we want to clear here that this plan may take UpTo 10 days to ful fill. On November 5 there is USA election that will shake market heavily and we can see huge volatility on that day. Market will fluctuate with results out comes. On 07th Nov there is FOMC meeting and FED chair Jorem Powell will announce rate decision most probability we see 0.25% rate cuts. Now let's discuss in detail how these data, election results will effect market and market manipulator use these data as base point to grab liquidity.
First we will discuss election and it's results and then FED decision about interest rates and their effect. One thing to note here is that every thing is connected with other so read full post to understand better.
FED Interest Rate Decision :-
Most of the time when FED cut rates BTC move in same direction for 3-7 days in which it is moving before rate cuts. Here is example:
Same like it we discussed about three events before Fed first rate cut in SEP. Means we can expect same momentum after rate cut like before. When FED cut interest rate people withdraw money from banks and invest in stock, real estate etc. So, we can expect a bullish momentum on rate cut on 7 November. Almost $2,000 price increment is expected in #Bitcoin❗ price if FED cut 0.25% rate and Powell hint more rate cuts before 2025.
Election Results :-
Most probability that Trump win election. There is hype that if trump win BTC pump UpTo 80K-85K. But we think differently. As on 5 Nove there is election and it will take UpTo 2-4 days to reveal full results. Let's suppose on 8 Nov results get display. On 7 November after rate cut market will take upward move on election result people will already bullish then here market manipulator will do their job and correct market UpTo 70K, 68K. That is just our personal point of view.
According to polymarket there is 67% chance Trump win. We analyzed above all things on one sided bases. So, do your own research also before taking any financial action.
Manipulators Job :-
As we mentioned above on election result every one will try to long but exchanges will manipulate and dump market UpTo
$70K
$68K
But before that dump we can see 74K even 75K. Also technically we can get a support from 68K area from previously rising resistance that shifted into support now.
Means on these levels book profits and wait for buying later. Don't sell all but 30% - 40%. That is what we are going to do personally. In short words book profits at $73K-$75K and then wait for $70K and $68K for buying. A dip is coming⏳.
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