BTCUSD - A Simple way to look at things.

In this look at BTCUSD I just use simple patterns and timing to give us the downside target of around 12k.
This lines up with previous market tops and lows when it retraces up to 88.6% from the ATH.
The other reason for one more low is the fact that the 3-4 week rally from the June low was very weak.
There is also the pattern of high to high high which gives us around 140 days and we are headed lower from there.
The FED also said that rates are going up for the forseeable future to curb inflation and we know that Bitcoin doesnt like that as it runs like a tech stock now.
Anyway some thoughts for now and we need to find a small rally to get short..
The next few days will be key.

ETHUSD is running the same with a downside target of 650. It was stronger in the last rally and made the 382 @ 1720.

Enjoy the week. 👍👍


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