Bitcoin 1D is almost oversold. A first target would be $42,000. Resistance is $45,000 and $47,000. There just doesn't seem to be enough steam for a breakout. Bitcoin's popularity is already maxed out and the investor is struggling according to the economic data. Being that Bitcoin moves with the equity market, we could see bitcoin take a tumble.
Morgan Stanley stated the "Bear market is over". JPMorgan analyst is telling equities investors to take profits. It seems like more economists and analysts are seeing markets taking a tumble. FOMC has been much more hawkish, pushing the 10YR higher. The 1M for Bitcoin is bearish, but short term is looking somewhat better as there have been higher lows and higher highs since January.
Morgan Stanley stated the "Bear market is over". JPMorgan analyst is telling equities investors to take profits. It seems like more economists and analysts are seeing markets taking a tumble. FOMC has been much more hawkish, pushing the 10YR higher. The 1M for Bitcoin is bearish, but short term is looking somewhat better as there have been higher lows and higher highs since January.
Comment:
Bitcoin and its semi-slow decline sub $10,000
Trade closed: target reached:
Bitcoin reached out 30,000 level, where it remained from May to June 2022, until it broke down. This target was reached!
