Welcome guys! I have been in babypips since 2015. Wow that’s a quite lot of time and just can’t believe that I’m still trading for all those years with the few guys that holding trading career such a time.
Well just thought to share with you some cryptocurrency specially bitcoin market analysis with technical, price action and as well the most important thing that most of traders don’t even think don’t even talk the fundamental analysis.
I will start with a simple one for the upcoming market
Yesterday release USA important news events NFP and unemployment rates and those reports results were way more than positive for the US Dollar and that makes US dollar strong. So if US dollar strong, that means bitcoin and cryptocurrency market is going bearish overall
Here is the report
NFP forecast news and expected just 250K but the actual report was 528K that’s double than expect because of this yesterday dollar got stronger and S&P500, NASDQ futures as well cryptocurrency made bearish momentum.
So I’m expecting this bearish warm will continue more couple of days but the bitcoin keep market struggles sideways consolidation around 22400 - 23600 area.
The reason is still the main BTC down movement is not started yet that is about to come and that move will make more than 15K BTC. But for that move, there will be another up correction. So BTC looks like still preparing for this up correction.
The sideways move that could happen in recently
share your analysis and ideas too guys
