BTC is in consolidation. It reached as high as $21684.87, precisely within the resistance target at $21688.97. This target point diverts to $21759.56, which is a key point of recovery. Breaking it up will generate more space upward, otherwise, the price is kept under it.
Weak consolidation: the process of recovery would need bulls to conquer every resistance above. Usually, it would jump up against a resistance and hit back consolidating or just chopping around an area. It’ll keep coming back and forth in between.
Sign of a good recovery: taking hold of $23273.45 and remaining above it for 24 hours.
Sign of recovery failure: breaking down $20669.98-$20536.61 without pulling back in 12 hours, it’ll go deeper to test a lowest point at $18838.49.
The market expected interest rate hike: 50bp(49.5%),75bp(50.5%)
Weak consolidation: the process of recovery would need bulls to conquer every resistance above. Usually, it would jump up against a resistance and hit back consolidating or just chopping around an area. It’ll keep coming back and forth in between.
Sign of a good recovery: taking hold of $23273.45 and remaining above it for 24 hours.
Sign of recovery failure: breaking down $20669.98-$20536.61 without pulling back in 12 hours, it’ll go deeper to test a lowest point at $18838.49.
The market expected interest rate hike: 50bp(49.5%),75bp(50.5%)