Fundamentals: - Commercials - CoT Report shows increased net long positions at a 52 week high - Rising open interest supports trend continuation (daily downtrend) Technicals: - Daily/H4 order block highlighted - lines up with high volume area, indicating potential reversal. - Currency strength based on RSI also supports weakening NZD against the USD.
In May 2021, I published my view that BTC could retrace back to between around $11-16k by Feb/March 2022. As we approach this time, I've decided to review the analysis. Bitcoin went on to create a new high after my previous prediction, but it has been in a steady decline since November 2021 now. It has put this back on track to potentially continue on down to the...