Hello traders.
Let's check Bitcoin chart quicky.
We can see
1. the price is breaking long-term descending channel.
2. 18000~26000 box pattern is in the process of being made.
3. reisistance on 22000 and 26000
We should check
Wednesday - ECB President Lagarde Speaks, UK Composite PMI (Sep), UK Services PMI (Sep), US ADP Nonfarm Employment Change (Sep)
Thursday - UK Construction PMI (Sep), ECB Publishes Account of Monetary Policy Meeting, US Initial Jobless Claims
Friday - EU Leaders Summit, US Nonfarm Payrolls (Sep), US Unemployment Rate (Sep)
We can expect
1. the price drops to 14000 if it keeps the descending channel.
2. making 18000 ~ 26000 box pattern if the price breaks the descending channel.
Because of expectation of that Fed may relax their policy of retrenchment, the market had power to keep jumping up.
By this power, Bitcoin is breaking the descending channel.
We still can see the downward movement but, soon, we have to prepare the Long position.
Let's see how it moves, and I'll keep comment on this.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Let's check Bitcoin chart quicky.
We can see
1. the price is breaking long-term descending channel.
2. 18000~26000 box pattern is in the process of being made.
3. reisistance on 22000 and 26000
We should check
Wednesday - ECB President Lagarde Speaks, UK Composite PMI (Sep), UK Services PMI (Sep), US ADP Nonfarm Employment Change (Sep)
Thursday - UK Construction PMI (Sep), ECB Publishes Account of Monetary Policy Meeting, US Initial Jobless Claims
Friday - EU Leaders Summit, US Nonfarm Payrolls (Sep), US Unemployment Rate (Sep)
We can expect
1. the price drops to 14000 if it keeps the descending channel.
2. making 18000 ~ 26000 box pattern if the price breaks the descending channel.
Because of expectation of that Fed may relax their policy of retrenchment, the market had power to keep jumping up.
By this power, Bitcoin is breaking the descending channel.
We still can see the downward movement but, soon, we have to prepare the Long position.
Let's see how it moves, and I'll keep comment on this.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
