jayashan_2005
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“The USA FOMC Meeting taking place tonight will be decisive for Bitcoin’s price. Based on historical chart behavior, the market is acting exactly the same way it behaved before the previous FOMC meeting, and at this point the market seems to have already priced in the upcoming Rate Decision.
If Bitcoin does not stay above $96,500 over the coming days and during this weekend, it is highly likely to drop toward $75,000, even before the end of December.
According to Classical Trend Lines, the price is near the resistance of the red short-term downtrend line, and below the yellow long-term uptrend line, indicating increased selling pressure.
From an SMC perspective, the unmitigated liquidity within the $92,000–$86,000 FVG has now been fully filled with a strong wick, and a new short-term green uptrend line has formed from $80,600. Because of this, Bitcoin also has a considerable possibility of moving upward again toward the main buy-side liquidity located above $116,000.”
#BTC #TrendingTopic #chartpattern #Helpingpeople
If Bitcoin does not stay above $96,500 over the coming days and during this weekend, it is highly likely to drop toward $75,000, even before the end of December.
According to Classical Trend Lines, the price is near the resistance of the red short-term downtrend line, and below the yellow long-term uptrend line, indicating increased selling pressure.
From an SMC perspective, the unmitigated liquidity within the $92,000–$86,000 FVG has now been fully filled with a strong wick, and a new short-term green uptrend line has formed from $80,600. Because of this, Bitcoin also has a considerable possibility of moving upward again toward the main buy-side liquidity located above $116,000.”
#BTC #TrendingTopic #chartpattern #Helpingpeople
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