As Bitcoin and altcoins enter a critical week, there has been an increase in the market in the last 24 hours.
BTC While it is above $ 63,000 today, it is at $ 62,930 at the time of writing.
While investors are focused on US CPI and PPI data and FED Chairman Jerome Powell’s speech this week QCP Capital A new analysis came from analysts.
At this point, analysts state that $60,000 is a strong support level in Bitcoin, except for hawkish surprises, and expect the rise to continue even if the BTC price continues to consolidate.
Finally, analysts state that option investors are also on the rise, BitcoinHe said he expected $65,000 in 2018 and $90,000-$100,000 in December.
” Bitcoin has recouped most of the 5% losses on Friday triggered by hawkish comments from the Federal Reserve.
We think price action will be interrupted here as the market digests the various macro events lined up this week:
Tuesday: US PPI, Powell will speak / Wednesday: CPI, Retail Sales
Despite the lows, given last week’s strong rally, $60,000 still looks like a strong support level barring any hawkish surprises.
Overall, BTC remains structurally bullish, even as the BTC price continues to consolidate here as the market receives more clarity from the Fed.
In today’s options flow, BTC buyers went bullish in June ($65k) and BTC went bullish in December ($90k to $100k).”
*This is not investment advice.
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