Amid the new strain from South Africa named Omric by WHO which tumbled the markets last weekly close, putting Brent Crude OIL down -12%, Dow Jones -2.85%, DXY -0.76%, and other major financial markets Bitcoin looks relatively strong on it's uptrend taken from 29k.
There is NO CERTAINTY on the Markets!
You have to understand that in the first place, before dealing with speculative nature assets, such as crypto.
Do not trade the news and noise, but take them as added notes into making your final decision clearer.
Chart Analysis is there to guide and help on our chance of possibilities and probabilities, all the lines and TA are in vein on the bigger picture of financial markets realm, despite perfectly drawn and explained TA.
On the 3rd of December Feds will discuss about their final decision regarding Debt Celeing,they will have to make up their mind on the 15th of December, on wether money printing shall continues, or tapering it and raising interest rates. A trial from all the bullish sentiment on the markets from March 2020 Health Crisis, which put interest rates to 0% and let the printing go brrrr.
There is NO CERTAINTY on the Markets!
You have to understand that in the first place, before dealing with speculative nature assets, such as crypto.
Do not trade the news and noise, but take them as added notes into making your final decision clearer.
Chart Analysis is there to guide and help on our chance of possibilities and probabilities, all the lines and TA are in vein on the bigger picture of financial markets realm, despite perfectly drawn and explained TA.
On the 3rd of December Feds will discuss about their final decision regarding Debt Celeing,they will have to make up their mind on the 15th of December, on wether money printing shall continues, or tapering it and raising interest rates. A trial from all the bullish sentiment on the markets from March 2020 Health Crisis, which put interest rates to 0% and let the printing go brrrr.
On the 4 hour time frame, Bitcoin's price action has broken above the down trend with above average volume and retested the downtrend broken it maintaining support at MA's.
RSI is nearing the overbought level but has room to push higher in price from here but even spend some time testing new buyers coing on Bitcoin
MACD looks good for higher prices as well, but this is short-term idea.
TRADE SAFE