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Let’s move on to analyzing Bitcoin. Today, Powell gave a speech that had a big impact on the market. Let’s see what the market will do next.
⏳ 4-Hour Timeframe
Today, Jerome Powell delivered his speech at the Jackson Hole event and spoke about U.S. Federal Reserve policies.
🔔 His comments were in favor of the crypto market, raising expectations for an interest rate cut, and this caused Bitcoin to move upward.
🔍 As you can see, the current 4-hour candle is a very large green candle, and the price was supported by the zone we had marked.
📊 The buying volume that entered Bitcoin is very high, and the probability that the price ranges after this candle is high.
⚡️ Considering that we are close to the weekend, this ranging could continue until the weekly candle closes.
🚀 However, at the same time as this bullish candle in Bitcoin, its dominance dropped and declined. For this reason, altcoins like Ethereum moved upward even more strongly than Bitcoin.
📈 If the upward movement continues, we can use a candle setup or RSI entering the Overbuy zone as a long trigger.
❌ Disclaimer ❌
Trading futures is highly risky and dangerous. If you're not an expert, these triggers may not be suitable for you. You should first learn risk and capital management. You can also use the educational content from this channel.
Finally, these triggers reflect my personal opinions on price action, and the market may move completely against this analysis. So, do your own research before opening any position.
Let’s move on to analyzing Bitcoin. Today, Powell gave a speech that had a big impact on the market. Let’s see what the market will do next.
⏳ 4-Hour Timeframe
Today, Jerome Powell delivered his speech at the Jackson Hole event and spoke about U.S. Federal Reserve policies.
🔔 His comments were in favor of the crypto market, raising expectations for an interest rate cut, and this caused Bitcoin to move upward.
🔍 As you can see, the current 4-hour candle is a very large green candle, and the price was supported by the zone we had marked.
📊 The buying volume that entered Bitcoin is very high, and the probability that the price ranges after this candle is high.
⚡️ Considering that we are close to the weekend, this ranging could continue until the weekly candle closes.
🚀 However, at the same time as this bullish candle in Bitcoin, its dominance dropped and declined. For this reason, altcoins like Ethereum moved upward even more strongly than Bitcoin.
📈 If the upward movement continues, we can use a candle setup or RSI entering the Overbuy zone as a long trigger.
❌ Disclaimer ❌
Trading futures is highly risky and dangerous. If you're not an expert, these triggers may not be suitable for you. You should first learn risk and capital management. You can also use the educational content from this channel.
Finally, these triggers reflect my personal opinions on price action, and the market may move completely against this analysis. So, do your own research before opening any position.
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🤵 Business Contact: [email protected]
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: [email protected]
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: [email protected]
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: [email protected]
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.