Technical analysis #btc October 11
The BTC weekly frame is preparing to escape the ichimoku red cloud area - the bearish area and reach the intersection between the two cloud areas at the end of October. Prices will often fluctuate strongly in this area. It coincides close to the FED's interest rate announcement date in early November.
According to the predictions of many experts, it is likely that the FED will keep interest rates unchanged at the next meeting, so there is no strong momentum to push the market further down, in my personal opinion.
Currently, BTC is being supported at the MA7 weekly frame, and the next hard support is the blue MA50 below. My personal opinion is still watch to 30k and wait for a short there!
