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🔴 Update and analysis for BTC and the entire market
1️⃣ BTC fell due to negative news from Jerome Powell, Chairman of the Federal Reserve, and news about the German government selling BTC and transferring large quantities for sale. For this reason, BTC fell.
2️⃣ As we see, BTC is negative, and the support and rebound area was 58,350, and it has now failed. It has completed its decline to 57,400. BTC’s only hope is for a daily close above the 59,750 area. This thing gives a very strong possibility because the NFP news was on Friday. BTC had previously risen due to this news more than the Fed news, and the 1D RSI indicator broke and entered. Oversold areas and the possibility of it now completing the 29.76 area, a positive breach of the 31.79 area, and the possibility of an upcoming rebound. Other than this, the possibility of a decline is more likely, and knowing the presence of positive divergences, it is possible with the closure of the BTC rebound, because tomorrow, Friday, NFP News, the market will have a stronger movement than before, and the negative indicator is in the 35.45 area. Therefore, the situation is good and at 4H in the areas of 23.22, this means that the possibility of the correction may end and begin to rise, and this thing is currently positive for the market in a very strong way. The return will be quick for BTC at the time of the rise from some areas. 1.30 hours remain until the 4h close, so there is a possibility of a rise after this if the government stops. German for sale
3️⃣ We also see that BTC is falling and some expect a rebound, but there is a high possibility of a drop today to areas below the 57,400 area, a possible possibility of reaching 50,000. The reason is that there is no resistance or a rebound area for these areas. Also, the possibility of a rebound is very difficult. Also, the return of BTC is almost impossible, so let us begin the analysis and see the potential areas.
