We have been watching BTC in a tight consolidation that has broken up instead of down. The volume has spiked on the breakout confirming the move. We can still go to 19.3k-20k before finding rejection. THis is a major resistance/support so if we reclaim it, I will become pretty bullish. This rally has been nice but I am still anticipating lower prices this year. I do believe we are still in a bear market. Nothing has felt like capitulation yet. The CPI was neutral and about what they expected.So nothing too crazy to pop off yet. But the SPY is making interesting highs right now. I am, starting become bullish on it which would be positive for BTC. But until interest rates are raised at the end of this month, there’s nothing too fundamentally crazy to look out for that will give us a sizeable pullback. I do think global tensions are going to rise this year and things are going to get sloppy which will effect the markets.
Comment:
Comment:
I am still watching this rally as a bearish retest for BTC. I think we will get a rejection here