Yesterday market confidence was boosted and was looking to break up $23536. Today it’ll test $23034.32 and confirm the breakout before heading towards the next resistance.
BTC follows a short-term relief rally, but the long-term movement has not changed. The short-term support is at $21788.18; key support diverted to $20904.25.
The key support of the month keeps moving up; fund inflow increases.
The market has entered a short-term bull run and mid-term consolidation. Monitor if QT will go as planned by the Fed in September- double the amount of balance sheet reduction, which is an acid test.
BTC follows a short-term relief rally, but the long-term movement has not changed. The short-term support is at $21788.18; key support diverted to $20904.25.
The key support of the month keeps moving up; fund inflow increases.
The market has entered a short-term bull run and mid-term consolidation. Monitor if QT will go as planned by the Fed in September- double the amount of balance sheet reduction, which is an acid test.
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