VOT Research Desk
Market Analytics and Considerations
After the US CPI release last week, the cryptocurrency market found some support. It now appears that there is room for further successes after the recently observed (a)-(b)-(c) retracement in wave »b«. It therefore appears that wave »c« is currently underway, and when it is finished, a five-wave cycle will boost the price to 900B, a potential resistance region.
If we are right, there may be some possibilities in the near future, particularly while other international markets are taking risks. Although it is too premature to declare a bottom from a relatively long viewpoint, we believe that one may appear in 20223, when the crypto market may be more strictly controlled and the FED may have stopped raising interest rates. Combining these two can be advantageous for crypto.
Source: TradingView
Note: The sole aim of this article’s facts and material is informational.
