Bitcoin Analysis: What to Expect Next Week? 🚀
In recent days, Bitcoin has made a significant recovery after dropping to US$ 107.310 on September 1st. 📈 Now, BTC is trading around US$ 111.250, with the market eyeing the mark of US$ 115.000.
This rise is driven by speculation of a possible interest rate cut, as the latest US jobs report showed weak performance, with only 22,000 new jobs created. 📉 With lower interest rates, Bitcoin becomes a refuge for investors seeking protection against inflation. 🛡️
Graphical Analysis: What to Keep an Eye On 📊
BTC has recovered above US$ 110.000, but still needs to overcome some important resistances:
* US$ 113.400: Immediate resistance.
* US$ 115.000: Psychological and key level.
* US$ 117.389: Stronger short-term resistance.
On the support side, the levels to be monitored are:
* US$ 110.500: Immediate support.
* US$ 107.260: Retracement level.
* US$ 104.400: Critical point.
With a return of US$ 66.8 million in net inflows, traders are showing confidence and starting to rebuild their positions. Additionally, if Bitcoin reaches US$ 117.000, more than 3 billion in short positions would be liquidated, potentially accelerating the upward movement even further. 💥
Stay tuned for news! Bitcoin has remained above US$ 100.000 for over four months, and the Altcoin Season Index reached 56, indicating that the "altcoin season" may be on the radar, although uncertainty still persists. 🚀
