BitcoinBTC 9 2.8 BLS 9 336 , 000 3
BitcoinBTC 9 2.8 BLS 9 336 , 000 3.8%
The impact of US data on BTC
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In its recent analysis of the price trend of BTC, it accurately predicted an upward movement of over $28000, followed by a decline towards $27500 due to liquidity. BTC shows a tendency to retest price imbalances or liquidity areas. Since October 2nd, buyers have used price fluctuations between $27000 and $27200 to re-enter the market.
The recent rejection and high level of $28500 were the previous low levels in early August. Above this level, another price fluctuation is between $28700 and $29000, limiting the daily decline in business budgets to between $29000 and $30400.
Therefore, if Thursday's CPI data is favorable for bulls, it is recommended that BTC may retest the specified resistance levels of $28500, $29000, or $29500. On the contrary, he pointed out that bulls may defend price imbalances and demand areas between $27000 and $27200.
Any drop below $27000, especially if the September consumer price index is favorable for sellers, may weaken the BTC to $26400 or the daily upward trend OB. In addition, there is buying pressure, as shown by RSI, but spot market demand has been fluctuating in the past few days, as shown by OBV.
On chain metrics of BTC
In addition, CMF indicates that capital inflows into the BTC market remain below zero. According to the analysis of order traffic obtained from Mobutu data, BTC may experience price fluctuations of $28500, $29000, or $29500. There are significant limit selling orders at a specified level. At the time of writing this article, 145 and 157BTC were sold at a price of $28500 and $29000 respectively on the Binan Book Exchange alone.
On the other hand, the buying limit order is at the levels of $27200 and $27000, respectively. According to data from Coinglas' LiquidationMap, the level of limit buying and selling orders is consistent with the basic liquidity level. Therefore, it is recommended that the BTC price fluctuate between $27000, $28000, and $29000 in the coming days.
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