BTC is in consolidation. It reached as high as $21900, precisely within the resistance target at $21957.89. This target point diverts to $21738.27-$21951.46, 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 requires 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.
There’s an hourly-based support at $21220.23. Holding above it will accelerate the recovery, otherwise recovery is quite uncertain.
Sign of a good recovery: taking hold of $23226.34 and remaining above it for 24 hours;
Sign of recovery failure: breaking down $20709.21-$20531.14 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(39.5%),75bp(60.5%)
Weak consolidation: the process of recovery requires 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.
There’s an hourly-based support at $21220.23. Holding above it will accelerate the recovery, otherwise recovery is quite uncertain.
Sign of a good recovery: taking hold of $23226.34 and remaining above it for 24 hours;
Sign of recovery failure: breaking down $20709.21-$20531.14 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(39.5%),75bp(60.5%)