From a Technical Analysis perspective…
Finally got to the edge of the pattern. 10k move inbound in < 1 week.
Targets:
Bull: 28k-31k
Bear: 12k-13k
Indicators are bullish
MACD, RSI reversal divergence.
Bullish falling wedge.
Potential double bottom (weak)
Otherwise, it’s worth noting
- The BTC move is dependant of SPX (double bottom) and DXY (potentially topped out).
There is reasonable bearish argument, with interest rates likely to increase, which will push DXY higher. In turn, cause BTC to drop.
BTC in right angle triangle (bearish) but is ugly.
Media claims more interest rates hikes until February, so it is somewhat counterintuitive to assume BTC breakout, however, I’m not following the news, I follow TA.
So, in summary, TA bullish, fundamentals bearish, but media (fundamentals) is inaccurate.
Finally got to the edge of the pattern. 10k move inbound in < 1 week.
Targets:
Bull: 28k-31k
Bear: 12k-13k
Indicators are bullish
MACD, RSI reversal divergence.
Bullish falling wedge.
Potential double bottom (weak)
Otherwise, it’s worth noting
- The BTC move is dependant of SPX (double bottom) and DXY (potentially topped out).
There is reasonable bearish argument, with interest rates likely to increase, which will push DXY higher. In turn, cause BTC to drop.
BTC in right angle triangle (bearish) but is ugly.
Media claims more interest rates hikes until February, so it is somewhat counterintuitive to assume BTC breakout, however, I’m not following the news, I follow TA.
So, in summary, TA bullish, fundamentals bearish, but media (fundamentals) is inaccurate.
