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Wednesday, November 30, 2022

BitCoin Insight

BitCoin Insight

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

Hey, traders. After FTX, Bitcoin price had moved a lot.
Let's check the chart quickly.

We can see
1. the box pattern had extended.
2. the resistance on 18000.00 and 21500.00
3. the support on 14000.00

We should check
Wendnesday - China Manufacturing PMI, German German Unemployment Change, EU CPI , US ADP Nonfarm Employment Change, US 3Q GDP, US JOLTs Job Openings, US Pending Home Sales, Fed Chair Powell Speaks
Thursday - China Caixin Manufacturing PMI, German Manufacturing PMI, Britain Manufacturing PMI, Core PCE Price Index, US Initial Jobless Claims, ISM Manufacturing PMI
Friday - ECB President Lagarde Speaks, US Nonfarm Payrolls, US Unemployment Rate

We can expect
1. the price drops from the reistance on 18000.00
2. rebounding from 14000.00
3. goes up to 21500.00 by breaking the reistance on 18000.00

Bitcoin price is going upward but it doesn't have factor for that movement.
So, for now, it seems like temporary price rising.
If the price comes to 18000.00, it will be a chance for the short position to 14000.00.
And, if the prices drops to 14000.00, we may consider the long position.
Let's see if we can have good price for trading.

Thank you for reading and hope this insight was helpful.

Analyzed by Han.

Via TradingView Ideas

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