Brukks

BTC short to $50K by end of Nov, then rally

Short
COINBASE:BTCUSD   Bitcoin
We are at a very critical confluence of levels on BTC, we've already rejected a few times off resis after the false break above (and clearing stops above prior ATH), current HOD is facing an additional resis (three overlapping without including horizontal fibs). I am partially playing this on Powell, who likely came out too dovish last week (even though I predicted that in a prior post), he will now attempt to talk down the asset bubble in equities in front of Congress. Seeing as crypto has become a sort of inflation hedge (replacing a portion of gold at many investment banks) you can expect it to react similarly to an inflation hedge. After this meeting with congress, if inflatino assets pullback, Powell will flip flop on any overly hawkish remarks like he always does but I think ppl will take profit for now and wait for Powell to accelerate printing in Feb - May22 as the dems pressure him for a good market outlook heading into midterms. Long term bull on crypto but theres been enough signals here to either sideline or take profit
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