Market Overview and Bitcoin Price Analysis Short Term (09/12)

BTC Technical Analysis

The H2 frame has reached the old peak of 17200, the buying force is quite strong. BTC is running in a bullish channel. Targets for this short-term rally include:
Target 1: 17600
Target 2: 18000

Short term trading strategy LONG
Entry 17200
TP 17600 – 18000
SL 16900

Market Overview

Bitcoin price today recorded at 16:30 PM Open 17,218.71 USD, up 2.28% compared to 24 hours ago. The total cryptocurrency market value was recorded at 858.46 billion USD, an increase of 18.6 billion USD compared to 24 hours ago. 24 hour trading volume reached 37.13 billion USD, 1.03% higher than on 8/12

The market will continue to be volatile until investors get clearer information from the US Federal Reserve’s December policy meeting and the monthly CPI report. 11.

Bitcoin and the market in general are “bogged down” at the price range of 16,000 – 18,000 USD before a series of bad news. Since the FTX crisis, investors have less and less prioritized storing assets on exchanges. Individual investors are also increasingly averse to risk before the news that many large organizations and enterprises suffer heavy losses whenever there is an event in the market.

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