RLinda ! BTCUSDT-> Review of the flagship cryptocurrency

21 set 2022

BTCUSDT - Cryptocurrency remains trapped by market trends. The value of BTC continues to decline. Sellers here are not aggressive, but very consistent: the rate of the flagship cryptocurrency is trading in the range of 20,000-19,000.

BTCUSD, in terms of technical analysis on the daily chart remains without significant changes. The cryptocurrency is holding inside the $18500 support area. As soon as the lower boundary of the range is broken through, the downside target to $15,000 will be actualized.

Wednesday night is the end of the two-day U.S. Federal Reserve meeting. The base case scenario is that the interest rate will be raised by 75 bps. Then the market will get a confirmation of the implementation of the Federal Reserve's previous strategy
Over the past couple of days, the correlation between the S&P 500 index and the BTC exchange rate has recovered to a record high of 72%. The index was higher only in May of this year. This means that risky assets are under a lot of pressure.

From the technical point of view, above the uptrend line, which the price broke down earlier, there is a narrow long protrusion, relative to the boundaries of which the price forms a "shake-out". We see a pullback to an important level, which was previously confirmed very often. The scenario in this case is simple: how deep the price can go on the pullback. Whether it will be the 20000 zone or the 21000 zone, but in the medium term from the 20000-21000 levels I expect the fall to continue. The short-term target is support at 18500 and the medium-term target is the lower level of 17600.

Regards to R. Linda!

22 set 2022

Trade chiuso: obiettivo raggiunto

The technical analysis before the news from the Federal Reserve was correct and we reached the first target)
+8% on reaching the first target of 18500 support.