BTC/USDT - Showing Weakness 😬

With Bitcoin getting some decent rejection at 17K, overall sentiment is looking quite bearish for the king of crypto, and crypto in general to be honest.📉

FTX shenanigans aside, Bitcoin showed weakness as Stocks pumped like crazy for the 1st time since 2020. 🥶

Looking at the BTC/USDT 1H chart, we've mapped out a short term range from $15-17K we can see Bitcoin bouncing around in.

However if we break 15K, which we think is quite likely as we're macro bearish atm, then it could be look out below for all of crypto...🤯

With the latest Russia / Poland news, the worlds seems to be on a knifes edge - which implies the same for markets. At least that's how we feel.

Right now capital preservation is key, so we'll be watching from the sidelines eyeing decent setups.🍿

-TucciNomics
Chief Overlord, AlgoBuddy