Trader described the likely scenarios of the Bitcoin price movement
Forecasts of financial markets are the private opinion of their authors. The current analysis is not a guide to trade. FORKLOG is not responsible for the results of the work that may arise when using trade recommendations from the presented reviews.
A practicing trader and founder of the Crypto Shaman project Vadim Shovkun talks about the current situation on the market.
As stated in the review for October 28, before the election in the United States, there was no Tron is seeking serious negative in the market. We analyze the current situation in the conditions of shocks.
S&P 500
The stock index has formed the POC retest from movement over the past six months. In the medium -term perspective for Bitcoin is not expected.
On November 2, the US Federal Reserve system increased the range of the key rate by 75 basic points – up to 3.75–4% per annum. Inflation continues to grow.
The fear and greed index in the stock market holds 61 mark, although a month ago it was below 20.
The markets have no reason to grow. The current local positive will end soon.
BTC
The crisis of the FTX trading platform has launched a chain reaction, which will lead to a further fall in the cryptocurrency market. SOLANA collapse (SOL) by 34% per day – only the first major step. The injured collapse in May Terra is a small player on the background of FTX.
The fear of fear and greed in the digital assets market dwells at the mark 21, which may seem low. But this is not an extreme fear – historically, bitcoin stopped or bounced down with an indicator below 10.
The graph below shows the consolidation of the first cryptocurrency under a level of $ 18,400. During the night, the price could not return to the range $ 18 400–20 400. The eight -hour timeframe shows the high aggression of bears without signs of a possible rebound.
conclusions
The cryptocurrency market struck the summer minimums. At the time of writing, he does not show signs of rebound in the near future. Sideis is possible within the framework of several days, but the main forecast is a further decrease.
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