In the past days, we made a general analysis of BTC-World stock markets.
We saw hard selling in the market on Thursday and Friday.
I think this is because the Fed's emphasis on stability in inflation.
Regardless, when the risk of recession becomes heavy, interest rate hikes will come to an end. Of course, this may take some time. I expect the recent sharp declines to continue.
If we examine the chart of BTC(Bitcoin) according to technical analysis.
We entered the last two days of the week, if we continue like this, the decrease may continue until the level of TP2(Take Profit 2).
The price has completed its 5-wave wedge move after reaching its target of 25,000.
After breaking the wedge downwards, it fell hard.
The bottom point of the channel is support, but because the movement is hard, it may not hold here either.
The 17600 level is a critical level, if this level is crossed hard, the target may be 10 thousand dollars.
We saw hard selling in the market on Thursday and Friday.
I think this is because the Fed's emphasis on stability in inflation.
Regardless, when the risk of recession becomes heavy, interest rate hikes will come to an end. Of course, this may take some time. I expect the recent sharp declines to continue.
If we examine the chart of BTC(Bitcoin) according to technical analysis.
We entered the last two days of the week, if we continue like this, the decrease may continue until the level of TP2(Take Profit 2).
The price has completed its 5-wave wedge move after reaching its target of 25,000.
After breaking the wedge downwards, it fell hard.
The bottom point of the channel is support, but because the movement is hard, it may not hold here either.
The 17600 level is a critical level, if this level is crossed hard, the target may be 10 thousand dollars.
