Hourly chart trend has been violated with a significant volume. That accompanying the rejection from the major resistance area on the daily chart make this a bearish movement. If BRC breaks below 37.5k it will go down toward the next target in the 20's. There is a slight chance that it bounce back up above 38k which would make this a bear trap. I expect another test of the trendline before going down.
Also remember yields are likely to go down short term and with it all the crypto market.
But yields will go back up and people will need to hedge against inflation. That'll be when BTC would rally toward 250k.
Also remember yields are likely to go down short term and with it all the crypto market.
But yields will go back up and people will need to hedge against inflation. That'll be when BTC would rally toward 250k.
