ðĨWHAT WILL HAPPEN TO BTC IN DECEMBERâLOCAL AND GLOBAL FORECASTâ
ðĨHi friends! Bitcoin is already passed 11 month. It was a not easy year for entire crypto community, but so HOT for traders. Bitcoin has only bearish trend, so it was a pleasure to make money in this certain market. I think that the last month will be able to help even investors, because local trend can change.
ð GLOBAL FORECAST
Usually, December is months of consolidation. I prepared for you the statistic from 2017 to 2021. Bitcoin spent 3 out of 5 cases in consolidation, and in the other 2 cases showed strong growth. This means that in high probability, consolidation is the most likely option. Fortunately, there was no big drop in December.
â More about this in the idea ABOUT POSSIBLE SANTA RALLY!ð ð
November close with -16.23% drawdown. That is not top much taking in to account that that dump was related to collapse of FTX - top-2 exchange in the world. As we can see, the "red" Decembers was only after the "red" Novembers.
ðĨI think that this month may be an exception and in the LOCAL FORECAST I will tell you why.
ð LOCAL FORECAST
Now we see that from the MAY of 2022 each BTC drop with volume growth (liquidations) lead to local growth by 15-20%. It happen for 3 times. I think that 4th time will be the same but with 25-30% growth to $19-20k.
ðĐ I can think in this way because the yeterday speach of Jerome Powell gives me a reason to think about softening of hawkish policy in the fed funds rate. The FED will increase the rate by 50bp (not 75 bp as previous months) with high posibility.
Additionaly, the holidays will force the retail traders and investors put the fresh money in crypto
â Traders, what is your expectations about DECEMBER? Will it be the month of growth, consolidation in the range (16-18k) or BULL RUN? Write your thoughts in the comments!
ðŧFriends, press the "boost"ð button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
ð GLOBAL FORECAST
Usually, December is months of consolidation. I prepared for you the statistic from 2017 to 2021. Bitcoin spent 3 out of 5 cases in consolidation, and in the other 2 cases showed strong growth. This means that in high probability, consolidation is the most likely option. Fortunately, there was no big drop in December.
â More about this in the idea ABOUT POSSIBLE SANTA RALLY!ð ð
November close with -16.23% drawdown. That is not top much taking in to account that that dump was related to collapse of FTX - top-2 exchange in the world. As we can see, the "red" Decembers was only after the "red" Novembers.
ðĨI think that this month may be an exception and in the LOCAL FORECAST I will tell you why.
ð LOCAL FORECAST
Now we see that from the MAY of 2022 each BTC drop with volume growth (liquidations) lead to local growth by 15-20%. It happen for 3 times. I think that 4th time will be the same but with 25-30% growth to $19-20k.
ðĐ I can think in this way because the yeterday speach of Jerome Powell gives me a reason to think about softening of hawkish policy in the fed funds rate. The FED will increase the rate by 50bp (not 75 bp as previous months) with high posibility.
Additionaly, the holidays will force the retail traders and investors put the fresh money in crypto
â Traders, what is your expectations about DECEMBER? Will it be the month of growth, consolidation in the range (16-18k) or BULL RUN? Write your thoughts in the comments!
ðŧFriends, press the "boost"ð button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
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