BTC EN OF 2024
**Fundamentals:**
The reduction of interest rates will favor higher-risk assets, monetary destruction, and monetary stimuli. A 0.50 bp rate cut is expected by the end of 2024. There is high liquidity in the market, with large investors having cash available, indicating a potential market entry.
**BTC Analysis:**
Bitcoin is consolidating right at the resistance of lower highs around 68k.
**Scenario A:**
If this resistance breaks, it could signal the start of a bullish momentum. After breaking through the highs, it would be normal to see some consolidation or a slight pullback. Before the U.S. elections on November 5th, if Trump wins, it could further boost the bullish momentum, leading to a new bull run.
- **Target Price:** 80k - 100k
**Scenario B:**
Consolidation this week and a retest of all-time highs could lead to a pullback to the previous resistance zone before the U.S. elections, followed by a continued upward trend.
The reduction of interest rates will favor higher-risk assets, monetary destruction, and monetary stimuli. A 0.50 bp rate cut is expected by the end of 2024. There is high liquidity in the market, with large investors having cash available, indicating a potential market entry.
**BTC Analysis:**
Bitcoin is consolidating right at the resistance of lower highs around 68k.
**Scenario A:**
If this resistance breaks, it could signal the start of a bullish momentum. After breaking through the highs, it would be normal to see some consolidation or a slight pullback. Before the U.S. elections on November 5th, if Trump wins, it could further boost the bullish momentum, leading to a new bull run.
- **Target Price:** 80k - 100k
**Scenario B:**
Consolidation this week and a retest of all-time highs could lead to a pullback to the previous resistance zone before the U.S. elections, followed by a continued upward trend.
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