Review of the dual conditions of Bitcoin
In the current situation, Bitcoin has experienced a dual scenario due to fundamental conditions in the past month. The inflation rate for the United States has remained steady at around five and a half percent, and discussions have taken place regarding raising the debt ceiling and its impact on the market. The risk associated with Bitcoin, along with the potential for continued contractionary policies and interest rate increases by the Federal Reserve, has been a subject of consideration for investors.
Taking into account the previous conditions of the American economy and the successful management of the inflation rate since the beginning of 2022, most investors anticipate a continued downward trend in inflation. However, recent economic indicators in the United States show adherence to an inflation rate of around five and a half percent. This adherence could potentially be addressed by increasing interest rates, but the market stress suggests that it is time for the banking sector to assume control.
The prevailing conditions have dampened investor enthusiasm for aggressive pricing and have reduced the likelihood of further price stabilization following Bitcoin's 100% surge over the past few months from the $15,000 range.
Taking into account the previous conditions of the American economy and the successful management of the inflation rate since the beginning of 2022, most investors anticipate a continued downward trend in inflation. However, recent economic indicators in the United States show adherence to an inflation rate of around five and a half percent. This adherence could potentially be addressed by increasing interest rates, but the market stress suggests that it is time for the banking sector to assume control.
The prevailing conditions have dampened investor enthusiasm for aggressive pricing and have reduced the likelihood of further price stabilization following Bitcoin's 100% surge over the past few months from the $15,000 range.
Note
The price has reached the anticipated level, which will help determine its future direction. If it remains above 28,185, it indicates a positive reaction.Looking at tomorrow's Bitcoin seasonal candle, it is expected to close with a doji pattern, characterized by a small body and short shadows.
Note
The return occurred from the level of 28,150. Given that the market has followed the mentioned scenario, there is a strong likelihood of further decline to the level of 24,700.Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.