Instability in financial markets is a chance for BITCOIN growth

If you are interested in our global view of the possible price movement of BCTUSDT and when is the most favorable time to start the alt-season, then you should re-read our previous idea:

Today we will analyze the local situation that is forming on the BCTUSD chart

This week, buyers managed to raise the price of BTC by +10% from $19k to $21k and break the first portion of shorts' stops, which were hiding above $20k.

To continue the growth trend, which is probably emerging, Bitcoin buyers need to keep the price above $19750-20000
If this condition is met, buyers can start storming the next liquidity zone from above around $23000 in search of the next batch of shorts' stops.

The critical point from the bottom, which indicates the relevance of a new growth trend that is likely to emerge, has risen to $18650
The critical point from above, which indicates that the sellers have not yet given up completely, is unchanged at $23400

In general, the situation in the financial markets is currently tense and ambiguous.
On the one hand: quarterly reports of the largest US companies do show not the best results (META Facebook shares reacted with a -25% drop)
On the other hand, the US GDP for 3Q showed the first growth in 2022 +2.6% contrary to pessimistic expectations.
And next week on 02.11.2022 the US Federal Reserve is expected to raise the rate by +0.75%.
So there are more than enough factors for increased turbulence in the financial markets)

Therefore, we recall that sitting without a position in anticipation is also a position, and it looks like it is now the safest.

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交易進行:

The BTCUSDT price started to move up to $23000