Sirwin
Sirwin

BITCOIN TECHNICAL ANALYSIS AND INTRADAY LEVELS 11 NOVEMBER

By trade60 | trade60 | 11 Nov 2021


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Markets are still trying to digest the latest CPI inflation report from the United States and, however you interpret it, it was, according to newspaper reports, the largest price hike since 1990. Of course, this explains the reaction of the United States. gold, which rose above $ 1850 yesterday afternoon. However, it also served to give Bitcoin a boost, which is now seen as the new when it comes to inflation hedging tools. Personally I'm not sure I'm buying it yet, but that's the reality. The major cryptocurrency made a higher move as it follows gold's rise. BTC is back above 69k. The high so far has been set at 69000. Just prior to the US CPI data it was trading closer to 66k and the initial reaction to the data saw it drop to test that level, but not anymore.

Bitcoin certainly reacted positively to the record press of US inflation yesterday. The leading cryptocurrency climbed above 68k again, eventually setting a new all-time record at 69000. As this happened, it was noted that many traders now see BTC as the ultimate digital hedge against inflation. However, this status has been and still is questioned. Because BTC then fell sharply at the close of the United States, falling as low as 62,823, a drop of more than $ 6000 from its previous all-time high. It stabilized overnight during the Asian session, trading completely sideways, within a range of 64-65k. The exact range has been covered from 63,922 to 65,299 so far. If there had been an official close level for BTC last night, then it would have delivered a monstrous key reversal. However, there is no official closure, so it doesn't matter in technical terms. This principle could still save him, but the price action from the new all-time high is clearly not an endorsement of his so-called new inflation hedging status.

The dominance of Bitcoin is going down slightly.

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Crypto Fear & Greed Index 77 Extreme Greed

For intraday trading I insert the levels:

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This article does not contain investment advice. Every investment and trading move carries a risk, readers should conduct their own research when making a decision.
THE OPINIONS EXPRESSED BY THE AUTHOR ARE FOR INFORMATION PURPOSES ONLY AND DO NOT CONSTITUTE FINANCIAL, INVESTMENT OR OTHERWISE ADVICE.

 

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trade60
trade60

Sono un uomo di 60 anni, non lavoro da un bel pò di tempo e ora mi occupo a tempo pieno di trading e di cryptovalute


trade60
trade60

Mi occupo di analisi tecnica e trading sui mercati finanziari dal 2000, dal 2018 mi sono interessato alle criptovalute prima minandole e poi guadagnandole con qualche app/sito. Qui troverete informazioni utili sul trading, come guadagnare criptovalute dal nulla e come aprire wallet affidabili. Tutto questo senza fornire un servizio di consulenza ma di passione. Chi investe i propri soldi in operazioni finanziarie speculative si assume dei grossi rischi di perdere il capitale.

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