The real reason on why we are moving sideways from the last couple of days is because,
we have a both strong supply and demand zone (according to my analysis), or you can say that we are accumulating (SHORT-MIDTERM TIME).
Both zones currently act as support and resistance strongly holding BTC in a sideways channel.
Another factor is because the FED announced a 0.75% rate hike BPS gives us the uncertainty whether the price would go bullish or bearish ,
both bull and bear are fighting which put us in sideways trend
-If FED have raised the BPS rate hike to 1.00% or more, we would've gone bear
-If FED announced 0.50% or less we would've gone bull
but now were at 0.75% rate hike, just in the middle.
Conclusion: just a matter of time till one of the whales (either from bear or bull) determines the market trend till the end of the year.
Stay safe and always DYOR!
we have a both strong supply and demand zone (according to my analysis), or you can say that we are accumulating (SHORT-MIDTERM TIME).
Both zones currently act as support and resistance strongly holding BTC in a sideways channel.
Another factor is because the FED announced a 0.75% rate hike BPS gives us the uncertainty whether the price would go bullish or bearish ,
both bull and bear are fighting which put us in sideways trend
-If FED have raised the BPS rate hike to 1.00% or more, we would've gone bear
-If FED announced 0.50% or less we would've gone bull
but now were at 0.75% rate hike, just in the middle.
Conclusion: just a matter of time till one of the whales (either from bear or bull) determines the market trend till the end of the year.
Stay safe and always DYOR!