Another Breakout Imminent
(Previous idea cont'd)
BTC respecting the levels so far off the lows. Broke the downtrend and pushed up to 45K resistance before pulling back to
41K support. Very symmetrical, constructive price action.
Got the bounce off support and putting in an inside/resting day at resistance once again. Think we breakout above this time and squeeze to 50K+ before pulling back to retest 45K.
The Fed minutes today were more dovish than expected and Russia/Ukraine situation has calmed down. Should help alleviate some selling pressure on all risk assets.
Note: Bitcoin has significantly outperformed stocks from the Jan 24 low. Good to see relative strength
BTC respecting the levels so far off the lows. Broke the downtrend and pushed up to 45K resistance before pulling back to
41K support. Very symmetrical, constructive price action.Got the bounce off support and putting in an inside/resting day at resistance once again. Think we breakout above this time and squeeze to 50K+ before pulling back to retest 45K.
The Fed minutes today were more dovish than expected and Russia/Ukraine situation has calmed down. Should help alleviate some selling pressure on all risk assets.
Note: Bitcoin has significantly outperformed stocks from the Jan 24 low. Good to see relative strength
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