Hello everyone,
How are you all? I hope everyone is fine and doing great in their life.
In this blog, we are going to talk about the current market situation. Bitcoin was able to break its resistance at $112,000, and after that we saw a nice pump in Bitcoin as well as the entire crypto market. Even a few altcoins pumped nicely, like the one we talked about PUMP token, which is the native token of Pump.fun.
In the screenshot below, I have shared the chart that I have been referring to for the last few months. You can clearly see in that screenshot that Bitcoin is currently testing the resistance, which is now a major level for Bitcoin to re-enter the phase where it will have the chance to reach its recent all time high.
The question is whether Bitcoin will be able to break that resistance or not. I am going to zoom in on the screenshot you saw above and re-share it so that you can see how Bitcoin reacted to that resistance where it tried to break it.
In the screenshot below, you can clearly see that we were unable to break the resistance, and there was even a liquidity wick observed above that resistance line, which means that the short positions were liquidated here.
Let us look at the liquidity wick that was observed in Bitcoin. In the screenshot below, you can clearly see how the short positions were liquidated there and a liquidity wick was formed.
Now, this does not mean that the price of Bitcoin will go down, but there are chances that we may come down and test the support at $112000 and then possibly bounce back, break this resistance successfully, and aim for a higher price.
So while there are chances that we might travel down to test the 112k price point, there is something we can't ignore, and that is the FOMC meeting that will be live in the next three days. If this 112k USD price point has to be hunted, it will be within these three days.
Once we reach the FOMC meeting and the rate cuts are announced by the Fed, the market is expected to go up.
This section is for the games I play on Hive blockchain. You are free to skip this section if you are not interested in reading about the games here. In the screenshot below is my terracore base where you can see that I have 5 attacks and few scraps mined already.
Let us use our attacks and then I will finally move towards my bed to rest as this was a very hectic day for me. I did not get a single minute to rest today. Anyways, let us look at the attacks I did in the screenshot below.
One attack was dodged and four are successful and in just these four attacks we won 750 scraps.
Thank You and make sure to check Crypto Company services as I recently shared in my blog. You can simply click on the picture below and it will take you to their official website.
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