BTC TO THE MOON
2024-11-03

Good week 😊

Bitcoin and other indices continue their bullish and positive trend, driven by a wave of good news that pushes the chart upward and leaves sellers behind. From a technical perspective, there’s an interesting phenomenon: after each rise of over 10% in the chart, there’s a "correction" of about 6%, which is currently being reflected. At this moment, I see an accurate halt in buying power and a shift in momentum as we test critical levels.

Of course, if we drop below 68,400, we all know what will happen, and the way "down" will be clear. However, for now, I believe the correction is ending, and from here, we’re likely to see strong growth—possibly even reaching 75,000 this week—especially considering that there’s over $800 million in liquidations around the 74,000 mark.

From a fundamental perspective:
This looks to be one of the most interesting weeks to trade in the near future, with several key events:

U.S. Elections
Purchasing Managers' Index (Services)
ISM Index
Crude Oil Inventory (moving with the broader market)
Initial Jobless Claims
Interest Rate Decision! (after Powell’s hint at a potential rate cut in the upcoming decision)
Statements and press conferences to follow.
And, of course, let’s not forget that we’re in the peak of the quarterly earnings season, which certainly has an impact on the market.

Wishing everyone a blessed, green, and strong week!