🤖 #BTCLIVE - 14.09 🤖
🤖 #BTCLIVE - 14.09 🤖
TLDR:
Short-Term (-1 Day)
55:45- Bullish:Bearish
Mid-Term (1 Week+)
30:70
Bullish:Bearish
Long-Term (1 Month+)
70:30 - Bullish:Bearish
OVERVIEW:
We told you...respsect the Weekly Pivots and CME Gaps. They got filled - and price came to a sudden support, this is not a coincidence. Although now we are here it looks like there is going to be consolidation until the announcements begin from the fed kicking off at 1.30pm UK time. This will likely give a directional bias to the market and coming out of this bearish pennant. We might see some relief bounce here if it is neutral to bullish i.e below 75 BPS. There is a case that even if 75 does come in that this may already be dialled in and expected so a resulting pump could occur anything higher then we can expect further dumpage. On a macro level a rejection here can put us on a trajectory to 16k region now to play out this descending wedge on the weekly.
The bullish scenario is sub 75 BPS and breaking up on the bearish pennant to 20.8k where will hit first resistance and then a push up or major rejection here - either to 21.2k region or heavily down to sub 20k.
The bearish scenario will be a little more brutal if the BPS comes out bad - and will be a likely free fall again to 19.5k region with potential dead cat bounce and then further drop to 19k.
TECHNICAL ANALYSIS:
BULLISH FACTORS:
+ Bullish Descending wedge on the Weekly
+ Oversold on the Weekly
+ Reversal signal on the Weekly
+ Filled CME Gap and Weekly Pivots
+ Bullish Future Pivot becoming valid
+ Breakout from midterm descending wedge and retest on macro support on the daily
+Very Bullish Daily POC (too bullish imo)
+ Oversold on hourly
BEARISH FACTORS:
-Rejected from Macro Trendline Resistance on the Weekly for the descending wedge with the bottom being potentially 16k if it plays out
- Flipped pretty much all key EMA and DEMA's
- Bearish Pennant in play - unconfirmed direction
- Trading under a key resistance of 20.5k
NEWS:
Bull:
+ Russian international crypto payment to begin 2023
+ #Bitcoin hash rate reaches new high AGAIN!
+ Investment giants’ Fidelity, Charles Schwab and Citadel crypto exchange goes live [finbold.com]
cryptopanic.com/news/16317427/Investment-giants-Fidelity-Charles-Schwab-and-Citadel-crypto-exchange-goes-live?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram
+ Bahrain central bank set to test Bitcoin payment processing solution [finbold.com]
cryptopanic.com/news/16316977/Bahrain-central-bank-set-to-test-Bitcoin-payment-processing-solution?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram
Bear:
- PPI m/m (Expected to affect market)
- Core PPI m/m
- CFTC Chair Behnam Speaks (Likely to be mentions of Crypto)
- Sept 15:
ETH merge expected sell off
- Sept 16: Mt. Gox Claims Deadline
- Sept 21: FOMC rate hike decision
- #Bitcoin mining difficulty reaches 32.05 trillion, a new all time high.
- Odds of 100bps interest rate hike hits 48%.
- President Biden says "it’ll take more time and resolve to bring inflation down."
MARKET SENTIMENT:
Fear & Greed Index - Sep 14, 2022:
Today: 27 (Fear)
Yesterday: 34 (Fear)
Avg. 1W: 26 😱
Avg. 2W: 24 😱
Avg. 1M: 27 😱
Avg. 2M: 30 😱
Avg. 3M: 25 😱
Avg. 6M: 24 😱
Avg. 1Y: 32 😣
🔸 #Bitcoin
Price: $20,171
24h Low: $20,071
24h High: $22,654
MC Change: -40.9B (-9.6%)
Dominance: 37.5%
24h: -9.7%
7d: 1.9%
14d: -0.7%
30d: -17.4%
60d: -2.0%
200d: -47.4%
1y: -56.3%
TLDR:
Short-Term (-1 Day)
55:45- Bullish:Bearish
Mid-Term (1 Week+)
30:70
Bullish:Bearish
Long-Term (1 Month+)
70:30 - Bullish:Bearish
OVERVIEW:
We told you...respsect the Weekly Pivots and CME Gaps. They got filled - and price came to a sudden support, this is not a coincidence. Although now we are here it looks like there is going to be consolidation until the announcements begin from the fed kicking off at 1.30pm UK time. This will likely give a directional bias to the market and coming out of this bearish pennant. We might see some relief bounce here if it is neutral to bullish i.e below 75 BPS. There is a case that even if 75 does come in that this may already be dialled in and expected so a resulting pump could occur anything higher then we can expect further dumpage. On a macro level a rejection here can put us on a trajectory to 16k region now to play out this descending wedge on the weekly.
The bullish scenario is sub 75 BPS and breaking up on the bearish pennant to 20.8k where will hit first resistance and then a push up or major rejection here - either to 21.2k region or heavily down to sub 20k.
The bearish scenario will be a little more brutal if the BPS comes out bad - and will be a likely free fall again to 19.5k region with potential dead cat bounce and then further drop to 19k.
TECHNICAL ANALYSIS:
BULLISH FACTORS:
+ Bullish Descending wedge on the Weekly
+ Oversold on the Weekly
+ Reversal signal on the Weekly
+ Filled CME Gap and Weekly Pivots
+ Bullish Future Pivot becoming valid
+ Breakout from midterm descending wedge and retest on macro support on the daily
+Very Bullish Daily POC (too bullish imo)
+ Oversold on hourly
BEARISH FACTORS:
-Rejected from Macro Trendline Resistance on the Weekly for the descending wedge with the bottom being potentially 16k if it plays out
- Flipped pretty much all key EMA and DEMA's
- Bearish Pennant in play - unconfirmed direction
- Trading under a key resistance of 20.5k
NEWS:
Bull:
+ Russian international crypto payment to begin 2023
+ #Bitcoin hash rate reaches new high AGAIN!
+ Investment giants’ Fidelity, Charles Schwab and Citadel crypto exchange goes live [finbold.com]
cryptopanic.com/news/16317427/Investment-giants-Fidelity-Charles-Schwab-and-Citadel-crypto-exchange-goes-live?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram
+ Bahrain central bank set to test Bitcoin payment processing solution [finbold.com]
cryptopanic.com/news/16316977/Bahrain-central-bank-set-to-test-Bitcoin-payment-processing-solution?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram
Bear:
- PPI m/m (Expected to affect market)
- Core PPI m/m
- CFTC Chair Behnam Speaks (Likely to be mentions of Crypto)
- Sept 15:
ETH merge expected sell off- Sept 16: Mt. Gox Claims Deadline
- Sept 21: FOMC rate hike decision
- #Bitcoin mining difficulty reaches 32.05 trillion, a new all time high.
- Odds of 100bps interest rate hike hits 48%.
- President Biden says "it’ll take more time and resolve to bring inflation down."
MARKET SENTIMENT:
Fear & Greed Index - Sep 14, 2022:
Today: 27 (Fear)
Yesterday: 34 (Fear)
Avg. 1W: 26 😱
Avg. 2W: 24 😱
Avg. 1M: 27 😱
Avg. 2M: 30 😱
Avg. 3M: 25 😱
Avg. 6M: 24 😱
Avg. 1Y: 32 😣
🔸 #Bitcoin
Price: $20,171
24h Low: $20,071
24h High: $22,654
MC Change: -40.9B (-9.6%)
Dominance: 37.5%
24h: -9.7%
7d: 1.9%
14d: -0.7%
30d: -17.4%
60d: -2.0%
200d: -47.4%
1y: -56.3%
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