2022-12-09 14:03:18
#BTCUSDT #review
For Bitcoin, we saw a price pump to 17298 yesterday. I recommended taking a Short position from POI 12h TF
with confirmation of the setup on MTF. POI 12h was flashed with one candle, so there could be no talk of any short with such momentum.
Market capitalization - 858 billion, dominance index - 40.67%. Index of fear and greed - 26 (Fear).
We left the range upwards and fixed above the upper limit, the target at 17543 remains relevant, and I think that we will take it in the near future.
Unfortunately, the price was not delivered to the recruiting area in Long. So far, I don't see where it would be possible to consider a safe position. Until Monday, I remain out of the market.
If we return back to the hourly range, I will expect a deviation from below.
Stock indices were rising yesterday.
Nasdaq up 1.13%, Dow Jones up 0.55%, S&P 500 up 0.75% to close at 3963
The dollar index is at 104.5. Gold is back above 1800.
Today is the release of data on US proinflation for November (PPI). This is a leading indicator that will confirm or refute the data that the peak of inflation has been passed, which means it will add certainty to the expectations of the fed's actions.
Next week, the focus of investors will be a two-day meeting of the US Federal Reserve, which begins on December 13th. The decision will be published on Wednesday, 14 December. Then there will be a press conference by J. Powell. It is expected that the rate will be raised by 50 basis points to 4.5% per annum. I think that the rate increase is already priced in, so the focus will immediately shift to Powell's speech after the meeting.
A report on consumer prices for November will be released at December 13.
If we do without negative news in the crypto industry until December 14, then the dynamics of bitcoin will depend entirely on macroeconomic events in the United States and the reaction of stock indices and the dollar to them.
Have a good day and peaceful skies everyone!
Take care of yourself and your loved ones!
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