This would be my bullish scenario. Pre-FOMC and on Monday, correction to sweep the lows. Perhaps hitting $87K. After that, bounce back up, swiftly, in which the uptrend is confirmed for #Bitcoin and it's ready to break $92K and therefore the run towards $100K in the coming 1-2 weeks as the FED is reducing QT, doing rate cuts and expanding the money supply to increase the business cycle. That would be one of the best cases, I reckon. What's the invalidation on this? There are two. - Losing $86K would mark a test at $80K. - Breaking and holding $92K would be the ideal trigger for continuation to $100K, so failing to break $92K is the bearish case and second invalidation point.
Share
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.