Strong message from the ECB, the dovish Fed and a LOUD alert for BITSTAMP: BTCUSD by Tradersweekly – Technische Analyze – 2022-12-02 06:14:44

yesterday, bitcoin The price broke $17,000 despite the strong message from Europe central bank (European Central Bank). official Twitter The European Central Bank account tweeted that the rate bitcoin It is artificially maintained (for now) and will soon embark on a journey into irrelevance. This is an unusual statement from European officials and leaves us only to speculate about how it operates behind the veil. Therefore, this message puts us on high alert.

Same message from the administrator Twitter European Central Bank account:
“The apparent stabilization of Bitcoin’s value is likely to be the last artificially induced moments before the crypto-asset embarks on an irrelevant path. #TheECBblog looks where bitcoin Standing in the midst of a wide spread volatility in the crypto markets.

Meanwhile, on the other side of the world, Jerome Powell said during his speech that as soon as December 2022, the pace of rate hikes may slow. Although this is nothing new, the market has been searching for one swing In Powell’s statements and his steps in all fields. However, the market is taking away that interest rates are here to stay much longer than initially thought. In addition, market participants seem to ignore that interest rate hikes will continue to increase, putting more pressure on interest service and the overall economy.

As a result, we expect the bear market to continue to crash and drag cryptocurrency and stock prices much lower over time. Therefore, we keep our price targets at $15,000 and $13,000.

Illustration 1.01

glimpse

Illustration 1. 01 Offers daily chart From BTCUSD And two simple moving averages in one bearish constellation. The yellow arrow indicates the price rebound in 20 days SMA which often coincide with corrections and rising in the short term. Now, 20 days SMA works as one support level ; within fifty days SMA works as one resistance level .

You are welcome to express your thoughts and ideas in the comment field.

Disclaimer: This analysis is not intended to encourage the buying or selling of any particular security. Further, it should not be the basis for any trading action to be taken by an individual investor. Therefore, it is highly recommended that you do your due diligence before entering into a trade.

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