A beautiful breakout for BTC occurred during Powell’s speech. In contrast with what most people believed, Bitcoin broke $39k in relatively high volume and touch $40k. The first signs of weakness in volume and the candlesticks are already visible, so a return and test of the previous resistance is possible.
At the same time DXY (is negatively correlated with Bitcoin) broke below its previous support.
Don’t get carried away of this. Before continuing its uptrend Bitcoin needs to clean $45k first.
Bear in mind that a global recession is a very likely scenario, so keep your targets … relatively low.
At the same time DXY (is negatively correlated with Bitcoin) broke below its previous support.
Don’t get carried away of this. Before continuing its uptrend Bitcoin needs to clean $45k first.
Bear in mind that a global recession is a very likely scenario, so keep your targets … relatively low.