Sep.19-Sep.26(BTC)Weekly market recap
Last Wednesday, the Federal Reserve announced that it would not raise interest rates this time, basically in line with market expectations. But as we said before, OPEC's production cuts have caused a rebound in U.S. refined oil prices in the near future. There is a certain possibility that the FOMC will continue to raise interest rates in November, and the timing of QE will be further postponed.
After reaching above 27000, BTC fell with fluctuation, returning to around 26000. Trading volume was the same as before. The bears dominate but not many are ahead. We maintain last week’s resistance level 28000 and support level 25000.
On the daily level, we can see on the WTA indicator that when long red candles appear, whale participation increases. We have mentioned before in our analysis of other Tokens that when this happens, it means that whales are eager to take profits.
At the 4h level, the MBF indicator shows that there were three waves of bottom buying sentiment in BTC yesterday. However, judging from the WTA indicators, the participation of whales is average, and more of them are bottom-buying by retail investors.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
After reaching above 27000, BTC fell with fluctuation, returning to around 26000. Trading volume was the same as before. The bears dominate but not many are ahead. We maintain last week’s resistance level 28000 and support level 25000.
On the daily level, we can see on the WTA indicator that when long red candles appear, whale participation increases. We have mentioned before in our analysis of other Tokens that when this happens, it means that whales are eager to take profits.
At the 4h level, the MBF indicator shows that there were three waves of bottom buying sentiment in BTC yesterday. However, judging from the WTA indicators, the participation of whales is average, and more of them are bottom-buying by retail investors.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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