As the Monday 14th FED's meeting brought nothing to the table and Ukraine conflict still hanging on knifes edge, we've seen some bullish price action and potentially attempt to break out of that tightening formation. Next key area would be 45-46k and if BTC can make a decisive move I would see a higher probability then for the death cross trade (see linked) to complete. This is just a short term potential return to bullish move, I still see BTC going back to set a lower low on Weekly in the coming months, testing 29.5-31k area.
Comment:
As you can see we've hit the top side of the triangle and broke below the weekly cycle trend line, stopping at 40k level. What Russia does will determine the next move and how traditional markets react, as BTC and other digital assets follow these closely. Most likely a break below 40k is to be expected and journey towards 30k.
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