Key facts:
The market remains on the lookout for a possible rate cut in the US.
“Current demand and supply for bitcoin are neutral and bearish,” Woo says.
Professional analyst and trader Willy Woo has shared his vision on the near future of bitcoin (BTC), anticipating a rise in its price in the short term. The main cryptocurrency on the market It is in a clear uptrend that could continue for about another week.according to exposed Woo.
This analysis comes at a key moment, marked by the expectation of important macroeconomic movements in the United States, scheduled for today, September 18.
Investors’ attention is focused on the Federal Reserve’s (Fed) possible decision to cut interest rates, as reported by CriptoNoticias.
A rate cut often translates into lower borrowing costs, which incentivizes investors to take more risks, investing in assets like bitcoin, other cryptocurrencies, and stocks. This, in turn, could boost demand for bitcoin, leading to an increase in its price.
The amount of bitcoin on exchanges is decreasing
As for the medium term, Woo highlights that There is significant bitcoin buying on the spot market (spot), where cryptocurrencies are acquired directly rather than through derivatives.
Accompanying his analysis with a graph, the expert shows a downward trend in the amount of bitcoin stored in the exchanges, which indicates that Many investors are withdrawing their BTC and storing them in private wallets.
This It is usually interpreted as a bullish signalas a decrease in the supply of bitcoin available for sale could generate increased demand, which can lead to an increase in price.
However, the inventory of exchanges that includes derivatives, such as futures, has remained stable, which could change if a “short squeeze«. This event occurs when investors who have bet on the downside in bitcoin (short sellers) are forced to buy quickly to cover their positions, which drives up the price even more.
Although “current demand and supply for bitcoin are neutral and bearish,” Woo warns that this could change quickly. if liquidations occur, which would make the market bullish.
Still, the analyst remains “cautiously optimistic,” saying that while there is potential for an upside, he is not entirely sure it will materialize.
In a stagnant market, traders continue to seek profits
For his part, businessman and market analyst Matthew Dixon has taken advantage of the current market situation while waiting for the Federal Reserve’s announcement, describing the moment as “scalping heaven,” as he has said. explained through X.
This expression, common among traders, refers to an ideal period for carrying out scalping operations, a strategy that involves opening and closing multiple trades in short periods of time to make small profits on each transaction.
Dixon has adopted this strategy while the market remains in a stagnant range, which he says, It is perfect for scalping due to the small fluctuations that can be exploited.
“Personally, I choose to short whenever the market goes up and I have already made multiple profits with this strategy on BTC,” the analyst concluded.
