Key points:
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Bitcoin returns to $ 112,000 while the bulls stage key resistance.
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BTC Price Action preserves the “bull market support channel” in a classic drop to support.
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Gold reaches new heights of all time as a Bitcoin perspectives praise its macro coverage status.
Bitcoin (BTC) typed $ 112,500 after Wednesday’s Wall Street opening while merchants slowly turned by the BTC price action.
BTC Price punishes shorts with a rebound of $ 112,000
Cointelegraph Markets Pro and TradingView data have shown that BTC / USD is trying to win back the key support levels.
These included $ 112,000 himself, which formed the bottom of a large plot of liquidity of request on the exchange books.
Coinglass data showed that the price was released a piece of this liquidity during the day, the rest extending to $ 114,000.
Commenting, the popular Crown -style merchant has highlighted the main support battles currently at stake.
“It looks like an attempt to recover support 1, which would lead to a return inside the range,” said part of a post X.
CRYPNUVEVO noted that only two weeks remain until a potential optimistic risk catalyst has entered – an interest rate reduced by the American federal reserve on September 17.
The message described the local stockings of this week at $ 107,270 as a “false decision”, while his compatriot Bitbull reported a classic rebound in the support.
“$ BTC has been perfectly rebounded by his Haussier market support group,” he told X subscribers, referring to a channel formed by two mobile averages.
“This is a sign that bulls have always control.”
As Cintelelegraph said, many market players are lying down on several deadlines, seeing a retain of $ 100,000 this week.
Bitcoin Bull Case increased as Gold Bat Record Highs
Regarding macro-valatility, the commercial company QCP Capital has seen the chances in favor of Bitcoin in the future.
In relation: BTC vs “very downstream” golden break: 5 things to know in Bitcoin this week
“Two cuts this year seem reasonable, but keep an eye on the strands, because new prices could push higher expectations,” he summed up in his last update on the “Asia Color” market.
“With persistent political uncertainty, a softer US dollar is more likely as long as global growth resists. Gold and BTC remain simple hedges in this backdrop. ”
Data from the Fedwatch Tool of the CME group confirm that market expectations of a drop in interest rate in September now exceed 95%.
Gold has made new heights of all time on Wednesday, reaching $ 3,567 per ounce.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.