BTC, Upctober coming?
2024-09-29

FA: Credit borrowing has risen as a result of lower interest rates as a response to periods of high market volatility. The rate has historically fallen as low as 0% in such conditions, which in turn further catalyzed money supply growth and inflation. Similar actions by central banks in Europe, China and Japan will cascade into a similar process.

Technical Analysis (TA):
On the monthly time frame, we observe that September’s candle has closed above August's, demonstrating absorption, which is a highly bullish signal. This suggests significant buying pressure. Moving down to the weekly time frame, there’s a noticeable Fair Value Gap (FVG), which could become a target for manipulation in early October. Following this potential liquidity grab, the price is expected to resume its upward momentum, potentially driving it to all-time highs (ATH) or beyond.

Bitcoin (BTC) has been consolidating for over six months, and this prolonged accumulation phase indicates the potential for a strong upward breakout, with targets in the $80,000 to $100,000 range.