Good day to all!
The U.S. economic calendar is set for a busy week, with all eyes on key inflation data that could impact central bank decisions. Cryptocurrency markets edged higher over the weekend, and these inflation reports could give them a boost, especially if the odds of another big rate cut increase.
After a rather sharp decline due to news and events, Bitcoin managed to stay above $60,000 and even received a reaction from buyers up to $64K, from where sellers became more active.
On the 1 Week TF, a fairly long wick has formed, which will most likely be covered this week and the price will test the $60K level again.
While the asset continues to move within the downward trend for more than 200 days, on 1Week in the local top formed the figure Engulfing, which can increase the probability of further decline to the buyer zone of $52K-56K within the trend. On 1Month, in order to continue growth and another breakthrough, it is important to return and consolidate above the level of $58900, even if there are spikes down to the above-mentioned zone. With such consolidation, it will be possible to talk about a reversal and the next wave of growth.
Ether also performed quite well, reaching $2500 on the first day of the new October week, but I expect another strong decline to the global ascending support in the $2K area, from where we can expect the asset to recover and see good growth to historical highs.
