Will #Bitcoin continue to rise? Or is this a deception?
#Bitcoin 1D chart;
Let's first interpret the Bitcoin chart and then evaluate the scenarios related to the agenda for the week;
In the simplest form.
As of June, it had broken the uptrend it had been maintaining since January and started to decline.
While moving towards the Ath level again, the point I want to draw your attention to here is the part I indicated with the yellow line; If the RSI side remains weak while testing the Ath level, we infer that there is a fake rise from here.
The fact that it has retested the downtrend at this very moment may bring us the question of <is this a retest?>, so this is in the pocket.
Let's talk about the Fed Rate Decision Meeting this week;
As we know, in previous pre-meeting events, the market has shown a retreat without a bounce. This time this is not happening, why?
My personal opinion is that the market now knows that the rate hike situation is at a very low rate, so it does not price it with pullbacks. Therefore, it may be possible to infer from this that the atmosphere in the market is upward.
Nevertheless, let's not rule out the possibilities I just mentioned above. Also, as you may remember, the gaps formed on 2 different dates on the CME side are still not filled.
Have a good week for all of you
#btc
BTC
Let's first interpret the Bitcoin chart and then evaluate the scenarios related to the agenda for the week;
In the simplest form.
As of June, it had broken the uptrend it had been maintaining since January and started to decline.
While moving towards the Ath level again, the point I want to draw your attention to here is the part I indicated with the yellow line; If the RSI side remains weak while testing the Ath level, we infer that there is a fake rise from here.
The fact that it has retested the downtrend at this very moment may bring us the question of <is this a retest?>, so this is in the pocket.
Let's talk about the Fed Rate Decision Meeting this week;
As we know, in previous pre-meeting events, the market has shown a retreat without a bounce. This time this is not happening, why?
My personal opinion is that the market now knows that the rate hike situation is at a very low rate, so it does not price it with pullbacks. Therefore, it may be possible to infer from this that the atmosphere in the market is upward.
Nevertheless, let's not rule out the possibilities I just mentioned above. Also, as you may remember, the gaps formed on 2 different dates on the CME side are still not filled.
Have a good week for all of you
#btc
BTC
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