Bitcoin In a Possible Bearish Short Term Trend

1 oct

Bitcoin in a Possible Bearish Short-Term Trend

Bitcoin recently completed a harmonic pattern near the 66,500 level.
The initial price reaction was positive, increasing the likelihood of the beginning of a bearish movement. This harmonic pattern adds more weight to the bearish scenario we are considering.

However, from a different perspective, BTC has been making significant upward and downward moves. When we refer to past movements, BTC is currently in a similar area.

I am looking for profit-taking opportunities near strong zones where the price has previously reacted, specifically around 59,800; 55,700; and 52,800.

You may find More Details in the chart

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2 oct

Operación cerrada: objetivo alcanzado

Bitcoin Near The First Target

In our analysis posted on October 1st, Bitcoin nearly reached its first target. Today, the ADP National Employment Report revealed that private sector employment rose by 143,000 jobs in September, surpassing the forecast of 120,000.
This indicates a significant improvement in job creation for the month.

The market is now anticipating stronger Nonfarm Payroll (NFP) data for September, which could further boost confidence in the strength of the USD.
Given these developments, we expect Bitcoin to continue its downward trend in the coming days, as indicated by the chart.

3 oct

Operación cerrada: objetivo alcanzado

1st Target Reached Congratulation Traders Be sure to fallow me