BTCUSDT Short

Risk off trading with rising Middle East tensions is causing more flight to safety than poor US macro releases are putting pressure on the Dollar. The instrument is currently descending towards the demand zone corresponding with 1/8 Murrey, opening the possibility of further decline to 0/8 Murrey and the previous lows. First I'd expect a bounce from daily point of control to around 61,600 based on 1h. If the 59,800 level breaks down this short position becomes valid.