BitMidas

Bitcoin Trend Analytics September 1

BINANCE:BTCUSDT   Bitcoin / TetherUS
The key short-term bullish support still plays its role as more positions are added around this price level. However, these positions are spread and thus cannot endure a plunge.

Monthly data are updated: the overall resistances came down and the price is under short-term pressure. Only by taking hold of $21115.19 could BTC stabilize - not a reversal - and add more support.

The key support experienced many tests with more positions added spread out. Breaking down the support without a pullback in 12 hours will see a slide. Monitor the supports.

QT doubles in September. Fed lifts the upper limit of QT to 95 billion (60 billion treasury bonds + 35 billion MBS). The market is under the pressure of quick and massive liquidity drainage.

The market expected interest rate hike in September: 50bp(31.5%),75bp(68.5%)

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