Market Analysis for 30.09.2020 Bitcoin was held above 10650 | Your Crypto Boss

Market Analysis for 30.09.2020

Bitcoin was held above 10650 for 24 hours and two attempts to leave below were quickly redeemed. An attempt to hold on to above 10800 again has also failed so far, but Bitcoin is now trading around 10800, clearly about to attempt again.

Market capitalisation 346 billion, domination index 57.7%

There was a slight decline in stock indices on stock markets yesterday (the S&P 500 fell by 0.48%). Even the falling dollar index didn't help the markets, and some investors are leaving the market in anticipation of electoral volatility. With the falling dollar, gold returned to 1900.

The first debate between Biden and Trump passed, but didn't bring any surprises. A survey before the debate showed Biden's advantage, but it was conducted in a local group because it doesn't yet say anything. The stock markets can now move upwards by adopting the aid package, which has been under consideration for over a month. And anything in favour of Biden winning the election can direct the S&P 500 towards 3200.

The crypto market is almost in balance.
After an unsuccessful attempt to take 11K on the weekend, there was no significant decline in Bitcoin, not even close to 10500. But the upward movement of power didn't show either, and it ended at 10800. Participants don't want to buy from the market, they want to buy below 10,500. But it hasn't been possible to get there for a week.

Yesterday's drop in the dollar index supported Bitcoin. Now the dollar index is growing again, and the S&P 500 futures are falling. If the situation doesn't change and the stock markets fall today (and in the absence of positive news on the aid package, it is quite real), then you can go for a refuelling on 10500 Bitcoin today. In the case of a positive external background, it is possible to consolidate above 10800 and try to take 11K. I see the first option as more likely.

The interesting one is that Bitcoin set a record for opening and closing the day above 10K. The previous result, which was achieved at the turn of 2017-2018, was 62 days. This means that more and more people understand the appeal of the asset in the current economic situation. And 10K for Bitcoin, which was the target for profit taking three months ago, is becoming an attractive buying level. All that remains is to get away from the stock market, and then nothing will keep Bitcoin above 12K.

YOUR CRYPTO BOSS

*Don’t forget to REGISTER now on a major exchange BINANCE, and start EARNING TODAY!