BTCUSD Bullish market future phases

13 ก.ค. 2023

We expect PPI Data release by FED today to impact Crypto market and produce short term retraction to 28.900 zone where the main Bullish market bottom support would be formed.

• PHASE 1 : We shall see formation of double bottom pattern around 28.900 zone observable in larger timeframes (6HR and above).
  
  
• PHASE 2: We expect market to reach strong resistance (Main Resistance) @ 34.200 mark where rejection is inevitable to 32.200 - 31.800 mark due to current FED uncertainty and global financial situation and ongoing war issues and rising commodity prices.
  
  
• PHASE 3: After some sideways momentum we further expect market to proceed to next resistance level of @ 38.800 where larger correction is imminent and longer accumulation phase for Bullish market shall ensue.
  
  
• PHASE 4: After some bottom support consolidation around 35.500-36.300 mark we shall see market to proceed to next resistance level of 48.600.