Bitcoin to test $37/$37.5K.
Folks,
Personally think the probability is higher to go lower than that we will go higher..
We see a bear leg in a BEAR FLAG/ TRADING RANGE.. We are hitting support.
In my opinion it is a minor support level and we will test MAJOR support to see where we stand with BITCOIN.
Major support is the 2nd YELLOW line..
We have to see how the market will react to hitting 37.5K.. We will take a closer look than at price action..
Why do i think the probability to go lower is higher than that we go up?
Bonds 10 year yields have broken out of a bearish trend.. and is going higher now.
Inflation is still rising and the FED will be hiking rates in the near future.
When rates go up ? Spending and investments will go down.. Less transactions.
When another persons spending is another persons income.. You know what the economy will do.. Go down. Recession..
Personally think the probability is higher to go lower than that we will go higher..
We see a bear leg in a BEAR FLAG/ TRADING RANGE.. We are hitting support.
In my opinion it is a minor support level and we will test MAJOR support to see where we stand with BITCOIN.
Major support is the 2nd YELLOW line..
We have to see how the market will react to hitting 37.5K.. We will take a closer look than at price action..
Why do i think the probability to go lower is higher than that we go up?
Bonds 10 year yields have broken out of a bearish trend.. and is going higher now.
Inflation is still rising and the FED will be hiking rates in the near future.
When rates go up ? Spending and investments will go down.. Less transactions.
When another persons spending is another persons income.. You know what the economy will do.. Go down. Recession..
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