$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.
𝟏. 𝗙𝘂𝗻𝗱𝗮𝗺𝗲𝗻𝘁𝗮𝗹 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀
🔸Jerome 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.
🔸On of FED member said before speech that they are looking for 0.5 rate cut in November .
🔸Israel started ground raid in Hezbollah.
🔸FTX 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.
𝟐. 𝐓𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀
🔸 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:-
• $67,400
• $69,900
𝟑. 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐎𝐩𝐢𝐧𝐢𝐨𝐧
🔸 According to my personal opinion #BTC☀ 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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