BTC is still in recovery, creating another intraday support today. This is small progress yet very slow in consolidation.
The process of recovery would need bulls to conquer every resistance above. Usually, it would jump up against a resistance and hit back consolidating or just chopping around an area.
Sign of a good recovery: taking hold of $23295.54 and remaining above it for 24 hours;
Sign of recovery failure: breaking down $20739.05-$20536.61 without pulling back in 12 hours, it’ll go deeper to test a lowest point at $18804.60.
The market expected interest rate hike: 50bp(45%),75bp(55%)
The process of recovery would need bulls to conquer every resistance above. Usually, it would jump up against a resistance and hit back consolidating or just chopping around an area.
Sign of a good recovery: taking hold of $23295.54 and remaining above it for 24 hours;
Sign of recovery failure: breaking down $20739.05-$20536.61 without pulling back in 12 hours, it’ll go deeper to test a lowest point at $18804.60.
The market expected interest rate hike: 50bp(45%),75bp(55%)