BTC had broken down from its last setup. We were primarily bullish, but if the pattern turned bearish, we were looking for 21k. I think most of the move has played out and we hit our target so I am going to start looking for relief to 22.5k and possibly higher. There isn't a setup visible but the SPY looks like its going to keep pumping which should bring in more upside for crypto and BTC
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If the consolidation I am watching on the SPY turns bearish, I will start looking for 20.3k-20.6k on BTC
Thanks for the update! Do you think that we will see bearisch price action if CPI data were be to higher than expected? So higher than 6.2%?
And if we may see 6.1% we will probably see more bullish price action right?
Have a good day.
BTC-HONDA
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@Optimustache, Hey! I'm sorry i missed this earlier! CPI came out pretty neutral yesterday allowing us to get more upside relief. We are just shy of our target but I think we will get more continuation from here. I am bullish on the stock market which should be good for crypto. I'm really starting to think we are on our way to 30 before a major pullback. I need a stronger setup for that claim but every single catalyst i was anticpating to be bearish, has been bullish. 6.1 CPI would have been a major pump for sure. I hope you have a great day!
BTC-HONDA
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@Optimustache, My bigges concern for this year is the Ukraine Russia war and its potential spill over into global markets. If it doesn it will be out of nowhere and the market will nuke
Optimustache
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@BTC-HONDA Thanks have a great day to! I'm with you on your thinking. Expecting to see cpi to move up next month too. Last run to 30k to then shake the market backt to 15k.
And if we may see 6.1% we will probably see more bullish price action right?
Have a good day.