BTC fighting the top of the GC

١ نوفمبر ٢٠٢٢

Addition to my last BTC analysis,

BTC is fighting the top of the GC on the daily. We can see that this has not been successfully defeated for a while. A break out above that and the 100 DSMA which converge at approx the same levels will be important if the bulls where to stand a chance.

Reminder that these days Macro is king.

Keep eyes on announcements coming out this week:

Wednesday (tomorrow): FOMC rate announcement; +75 bps expected. lower would be extremely bullish. maintaining 75bps although already priced in will bolster DXY and negatively affect markets. Also, #FOMC statement and language used will be carefully analyzed for tone. (hawkish vs a little dovish)

Thursday: BOE rate announcement: likely worsening conditions there and in the EU

Friday: US unemployment: counter-intuitively, lower unemployment will be bad for the markets.