Crypto-David

What do you think will happen to Bitcoin after the news of interest rates and Powell's speech?
#Bitcoin❗ #Binance $BTC

What could we expect from $BTC for the rest of this week?🔥
Bitcoin seen from a macro perspective has been on an upward movement, breaking highs and generating a historical maximum. Today, the long-awaited Wednesday brings the interest rate decision and Powell's speech. Will it be the fundamental factor that takes Bitcoin out of the accumulation it is in?🤔

*Technical analysis view💻
In the image, we see the daily timeframe. The price had an upward impulse, and since July 15, the price has entered a range between the levels of 120K USD and 116K USD💵; looking at this range from the Wyckoff method, the price has respected support and resistance, where it made a false breakout in phase C and is developing in phase D. We will see the confirmation of a good breakout of the resistance, which will then become support, or vice versa; my recommendation and what I will do is wait for this breakout and mark key areas as support and an OB at these price levels. In the image, we have two possible cases, which varies on how we take the entry depending on our type of confirmation. For my part, I will wait for the interest rates and act after Powell's speech.

*Fundamental analysis view👀
Regarding the news about interest rates being maintained at 4.50%, we will see Bitcoin with continued upward movement; however, the factor that will most determine the direction in this case will be Powell's speech, where he will face a set of uncomfortable questions, and I see three scenarios: -Scenario No. 1: Powell continues with the same hard stance of maintaining interest rates, which they are observing, but there is no possibility, and we would see this with a negative reaction. -Scenario No. 2: Powell is indecisive and says that there is a consensus in the FED to maintain or lower the rates, that there is no clear decision in this regard, which would generate an upward impulse. -Scenario No. 3: Prepare the market to lower interest rates in September, this would be the most bullish reaction.

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Is Bitcoin on the verge of a collapse or simply going through another bullish cycle disguised as a correction?

This is my Technical analysis regarding Bitcoin.
I made a previous post where I explain a bit better with the fundamental analysis that could lead to an interesting movement in Bitcoin, let's wait until Wednesday!
Visit the post and share your thoughts on what you think about Bitcoin.
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#bitcoin #alcista $BTC

Is Bitcoin on the brink of collapse or simply going through another bullish cycle disguised as a correction?
Bitcoin is going through a bullish cycle, where it has been generating all-time highs; however, the price of Bitcoin has been converging between the peak of 120K USD and 116K USD. It would be wise to wait for a good confirmation, as this week has started with influential macroeconomic events and it seems to be an interesting week, with a piece of news that might not impact this asset too much, such as the news coming out this Wednesday, which is "The Interest Rate Decision." This will be a key event that will undoubtedly generate a directional movement in Bitcoin and the rest of the markets. According to my analysis, I could expect a possibly bullish continuation.

If you currently hold positions in Bitcoin, remember to manage them well, and for those who do not, wait for a good confirmation regarding your trading plan.

Let me know in the comments what you think, and we can have a good growth discussion with different points of view.
#Binance #Bitcoin❗ $BTC