De dènye semèn yo nan crypto have been comparatively less volatile than the two weeks prior and it finally looks like we’re getting some reprieve. The market operations that the Bank of England started engaging in appear to have been successful in cooling the pound sell-off as it has gained back some ground against the dollar. This appears to have, at least temporarily, brought some calm to financial markets. Subsequently, Bitcoin has remained stable as it has been trading in the $18,000 to $20,500 range. This comes as a welcome change to the large price swings we’ve been observing in recent weeks.
From a technical perspective, it appears that the price of Bitcoin could be approaching a fulcrum point as it is currency sitting right on the $17,600-$18,500 major support range. Bears will be hoping that we lose this range and see another leg down. Losing this range would bring lows that the market has not seen since 2020, likely around the $15,800-$16,100 range, and would result in a bleak short-term market outlook for crypto.
Malgre pri a nan Bitcoin yo te relativman estab nan de semèn ki sot pase yo, tablo a chak semèn Bitcoin sijere nou ta ka prime pou kèk fedatifis. Ti towo bèf yo pral jwenn konsolasyon nan lefèt ke tablo a chak semèn montre yon egzanp klè nan yon kwen tonbe. Yon levasyon pi wo a kwen sa a ta ka siyal yon chanjman nan santiman mache epi pèmèt Bitcoin monte nan direksyon pou nouvo og ranje, sa ki pèmèt towo bèf yo reklame kèk tè pèdi kont lous yo. Yon lòt endikatè optimis ki bay sipò nan lide sa a se lefèt ke Endèks fòs relatif (RSI) nan Bitcoin sou tablo a chak semèn te plane alantou nivo oversold pou kèk tan ki endike ke nou ta ka prime pou yon ranvèse ak yon chanjman nan santiman.
Another important thing to keep an eye on is inflation figures. U.S. CPI Inflation just came in at 8.2% for the month of September, 0.1% higher than the 8.1% that was expected. Although this is just a slight deviation from the expected value, we have seen in recent months how inflation levels coming in even slightly higher than expected can have stark consequences for financial markets, including crypto. It certainly appears that the Fed’s rate rises have done little to drive down core inflation so far and market expectations towards further rate hikes are strong. Meanwhile and despite a slow-down of the pound’s sell-off, markets keep a close watch on what will happen with the growing UK Pension Funds crisis. On a macro-level, things might just about be starting to get interesting.
Nenpòt fason, kit se doulè oswa yon pwogrè, li posib ke nou pral gen yon lide pi klè sou sa ki pral rive lè fèmen chak semèn nan vini nan Dimanch.
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