:Bearish TA vs. Bullish Yields Signal:
Bearish TA:
Nasty looking Head and Shoulders however, we are at an area where there have been a lot of buyers. Bears right now are looking for down to 30K. Bulls want to hold support here and test the 60K resistance area. Failure to break that will send BTC to 30K.
Bullish Yields Signal:
BTC has followed US10Y since Covid. As inflation expectations rise, investors have been looking to BTC because they feel their currencies' value is deteriorating. US10Y just made a new high since 2020 so, BTC could test the upper resistance in the 60K-70K-80K area. US10Y will top out 1.7% - 2.0%.
All in all the forecast for 2022 for BTC is rangebound between 30K-70K (new highs). 2022 will be a traders year for BTC!
Bearish TA:
Nasty looking Head and Shoulders however, we are at an area where there have been a lot of buyers. Bears right now are looking for down to 30K. Bulls want to hold support here and test the 60K resistance area. Failure to break that will send BTC to 30K.
Bullish Yields Signal:
BTC has followed US10Y since Covid. As inflation expectations rise, investors have been looking to BTC because they feel their currencies' value is deteriorating. US10Y just made a new high since 2020 so, BTC could test the upper resistance in the 60K-70K-80K area. US10Y will top out 1.7% - 2.0%.
All in all the forecast for 2022 for BTC is rangebound between 30K-70K (new highs). 2022 will be a traders year for BTC!
Comment:
Technical Analysis wins out in the most recent price movement. As long as BTC stays above 29K we can see a rally due to heightened rates.