🤖 #BTCLIVE - 07.10 🤖
🤖 #BTCLIVE - 07.10 🤖
TLDR:
*Bullish:Bearish
Short-Term
80:20
Long-Term
45:55
OVERVIEW:
Favouring the bearish sentiment now with the break down of the short timeframe ascending triangle due to the fed news dropped. This sentiment will likely continue to 18.5k where we will see the first key long term support and also the bottom of the longer term market structure of the descneding tirangle. In a macro sense there is a weekly descneding wedge which would suggest a new local lower low to about 16k. If we bounce and hold at 18.5k then a revist to 19.8k would n't be unsurprising. The next break up of 20k would be an extremely bullish sentiment and an initial 21.3k would be a good target - this would have bigger implications with breaking out of a macro bear trendline.
TECHNICAL ANALYSIS:
Bullish Factors:
+ Broken 20DEMA
+ Bullish Divergence On Support
+ Breaking Key Supply Zone
+ Bullish CME Gap
Bearish Factors:
- VWAP REsistance
- 50DEMA Resistance
- Descending Triangle Pattern
- Longterm Trendline Resistance
KEY NEWS:
- US
Non-Farm Employment Change
263K 248K 315K
- US
Unemployment Rate
3.5% 3.7% 3.7%
- US
Average Hourly Earnings m/m
0.3% 0.3% 0.3%
- Binance 1.5b BNB hack
- BREAKING: VISA to launch Bitcoin and crypto backed debit cards in 40 countries in partnership with FTX!
- NEW: Bitcoin will be a catapult for Latin American nations - Mexican Senator Indira Kempis
TLDR:
*Bullish:Bearish
Short-Term
80:20
Long-Term
45:55
OVERVIEW:
Favouring the bearish sentiment now with the break down of the short timeframe ascending triangle due to the fed news dropped. This sentiment will likely continue to 18.5k where we will see the first key long term support and also the bottom of the longer term market structure of the descneding tirangle. In a macro sense there is a weekly descneding wedge which would suggest a new local lower low to about 16k. If we bounce and hold at 18.5k then a revist to 19.8k would n't be unsurprising. The next break up of 20k would be an extremely bullish sentiment and an initial 21.3k would be a good target - this would have bigger implications with breaking out of a macro bear trendline.
TECHNICAL ANALYSIS:
Bullish Factors:
+ Broken 20DEMA
+ Bullish Divergence On Support
+ Breaking Key Supply Zone
+ Bullish CME Gap
Bearish Factors:
- VWAP REsistance
- 50DEMA Resistance
- Descending Triangle Pattern
- Longterm Trendline Resistance
KEY NEWS:
- US
Non-Farm Employment Change
263K 248K 315K
- US
Unemployment Rate
3.5% 3.7% 3.7%
- US
Average Hourly Earnings m/m
0.3% 0.3% 0.3%
- Binance 1.5b BNB hack
- BREAKING: VISA to launch Bitcoin and crypto backed debit cards in 40 countries in partnership with FTX!
- NEW: Bitcoin will be a catapult for Latin American nations - Mexican Senator Indira Kempis
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