Morning folks,
So, today we need just 1H chart as not many events happened. In a recent two weeks people start making upside revisions on BTC price, based on recent JPow comments on QT contraction.
We agree that it has some reasons and supportive to BTC, but they forget that GDP forecast was cut, while inflation increased, which points on stagflation signs.
This is the reason why we do not want to overestimate the positive effect of QT contraction. We still think that BTC could show the pullback to ~70K area.
Now we have three different patterns that point on this level. Since our last update we've got the flag consolidation, that suggests upside continuation. AB-CD based pattern also point on 90-91K area.
So, we still keep our idea to consider shorts around 90-91K area
So, today we need just 1H chart as not many events happened. In a recent two weeks people start making upside revisions on BTC price, based on recent JPow comments on QT contraction.
We agree that it has some reasons and supportive to BTC, but they forget that GDP forecast was cut, while inflation increased, which points on stagflation signs.
This is the reason why we do not want to overestimate the positive effect of QT contraction. We still think that BTC could show the pullback to ~70K area.
Now we have three different patterns that point on this level. Since our last update we've got the flag consolidation, that suggests upside continuation. AB-CD based pattern also point on 90-91K area.
So, we still keep our idea to consider shorts around 90-91K area
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.