Yesterday market confidence was boosted and was looking to break up $23536. Today it’ll test $23034.32 and confirm the breakout before heading towards the next resistance.
BTC follows a short-term relief rally, but the long-term movement has not changed. The short-term support is at $21788.18; key support diverted to $20904.25.
The key support of the month keeps moving up; fund inflow increases.
The market has entered a short-term bull run and mid-term consolidation. Monitor if QT will go as planned by the Fed in September- double the amount of balance sheet reduction, which is an acid test.
BTC follows a short-term relief rally, but the long-term movement has not changed. The short-term support is at $21788.18; key support diverted to $20904.25.
The key support of the month keeps moving up; fund inflow increases.
The market has entered a short-term bull run and mid-term consolidation. Monitor if QT will go as planned by the Fed in September- double the amount of balance sheet reduction, which is an acid test.
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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.