Week 51 Bitcoin BTC Analysis

by Dec 19, 2022Bitcoin Weekly Analysis, Weekly Analysis0 comments

Last week, significant economic and price events happened. On the one hand, Mr. Pavel’s remarks verified and emphasized this problem when the Federal Reserve’s Dot plot, which demonstrated the persistence of the contractionary policy process, was released. On the other hand, Bitcoin saw a boost last week as a result of the release of the US interest rate, but the market was rejected from the resistance of $18,000 owing to the uncertainty that was caused in the marketplace and the margins of the Binance exchange and took a downward guard.

BTCUSDT Chart

Technically speaking, this correction and decrease were expected since, given the rate of price gain, a correction was required in order for the price to overcome the significant resistance of $18,000. For this week, we anticipate the price to increase once again to roughly $17,500, and if there is strong demand from there, it will retake the $18,000 region.

See also  Week 9 Altcoins Analysis

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