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BTC/USDT: Downside Continuation?
From a technical perspective, BTC /USDT is trading inside a beautiful bearish continuation pattern, thus further downside is expected. Additionally, from a fundamental perspective, U.S. economic data may keep coming above expectations, hence such results will be used by the Fed as a reason to increase interest rates further.
Although inflation managed to slow down a bit; however, we are still far from the levels that the Fed and other central banks are waiting for whether we are talking about the 2% target of the ECB or the Fed's target of around 5%.
Still no buy opportunities on risk assets. Chill and wait for 13k.
Good luck!
M.Y.
Although inflation managed to slow down a bit; however, we are still far from the levels that the Fed and other central banks are waiting for whether we are talking about the 2% target of the ECB or the Fed's target of around 5%.
Still no buy opportunities on risk assets. Chill and wait for 13k.
Good luck!
M.Y.
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