Cryptocurrencies had a great week recovering, Bitcoin is on track for it's best weekly gain since October last year.
As Global markets are adapting to rate hikes we are positive that Bitcoin will continue a short term bullish recovery
However, It is certain that following rate hikes will going to make U.S Dollar even more stronger and reducing
investor sentiment. Ergo, Cryptocurrencies will have to continue facing the turbulent times.
Technical Analysis,
1.) Strong Monthly Support - Monthly Candlestick Reversal
2.) Impulse Wave pattern - Bullish Formation
3.) Crossed 50 Month M.A - Bearish Sign
Conclusion: BTCUSD expected to reach 28000 level before it starts correcting.
DISCLAIMER
---------------
This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that this information shall not be construed as an investment advise or endorsing any methodology. The cases included in the report are not an endorsement of the people, products, or firms mentioned in the cases; investment product returns are unpredictable.
As Global markets are adapting to rate hikes we are positive that Bitcoin will continue a short term bullish recovery
However, It is certain that following rate hikes will going to make U.S Dollar even more stronger and reducing
investor sentiment. Ergo, Cryptocurrencies will have to continue facing the turbulent times.
Technical Analysis,
1.) Strong Monthly Support - Monthly Candlestick Reversal
2.) Impulse Wave pattern - Bullish Formation
3.) Crossed 50 Month M.A - Bearish Sign
Conclusion: BTCUSD expected to reach 28000 level before it starts correcting.
DISCLAIMER
---------------
This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that this information shall not be construed as an investment advise or endorsing any methodology. The cases included in the report are not an endorsement of the people, products, or firms mentioned in the cases; investment product returns are unpredictable.