VERY STRONG CONFLUENCES.
Introduction:
The provided chart displays the BTC/USDT pair on a daily timeframe, highlighting a symmetrical triangle pattern with two valid trendlines converging at a crucial support level, the 4H valid support at $65,811. This analysis aims to update the previous insights based on the latest price action and technical formations...
Importance of the Confluence:
1.Increased Reliability:
The convergence of the symmetrical triangle and the valid support level increases the reliability of this area as a critical decision point.
It suggests a higher probability of a significant price reaction at this level.
2.Potential Price Reversal or Continuation:
If the price approaches this confluence...
This first week of May 2024 is crucial to define BTC $62K support level BATTLE.
Considerations:
Point 1)
U.S BUREAU OF LABOR Report CALENDAR:
Wednesday, May 01 08:30 am -> Metro Area Employment/Unemployment for March
Thursday May 02 8:30am -> Productive and Costs for First Quarter
Friday, May 03 8:30am -> Employment Situation for April.
if numbers are...
In 2023, global EV sales reached 13.6 million units, up over 30%. China dominated with 7.9 million units sold, expected to hit 10 million in 2024. BYD sold 3 million EVs, including 1.6 million BEVs, while Tesla delivered 1.8 million BEVs, capturing 19% of the market. Tesla sold 700,000 vehicles in the US and Canada, 600,000 in China, and 400,000 in Europe. Tesla's...
While FED showing lack of aim to cut rates the commodities price sparks considerable. Bitcoin ETF rally get settle. What we have here now ? and what should expect for the future ?
Well let's back few years on what happened with BTC.
2022 - BTC price plunged due to regulatory uncertainties US, India and Europe increased their scrutiny of cryptocurrencies, also...
CRYPTOCAP:BTC now most likely to reach a $38K level with few stops before that emphasizes by the
Wall street indexes being performing well while AAPL and NVDA remain strong. Not mention the fact that Grayscale transferred almost 1 billion dollar to Coinbase exchange.
Today BITCOIN reached 17% correction from the most recent previous high $48.9K and it seems to be continue. In this chart we can see the potential next levels that we can reach in addition to that historically speaking February is a bearish month for crypto.
