#BitcoinHoldsThreeWeekHighAt$65K
Some very interesting short term price action on $BTC…
👀
After PPI inflation reports came back very cold this morning, similar to CPI yesterday, we saw all risk assets including crypto rally very strongly.
This took
Bitcoin
all the way back to reclaiming $65.5k, which is RIGHT below our major macro resistance sitting at $65.7k-$66k.
At the beginning of the week, I talked about the possibility of inflation data affecting short term price action and leading us to retest the major resistance above $65k, and that is exactly what happened.
We are now seeing some exhaustion from the buyers, as price failed to touch $65.7k. However, I wouldn’t be surprised if we see another push higher to test that level as we head into the weekend. But if we start to see a breakdown here, we could fall back to the 200EMA.
Keep a very close eye on price action as we head into the end of the week
$AKE
$BILL
$ALICE
Some very interesting short term price action on $BTC…
👀
After PPI inflation reports came back very cold this morning, similar to CPI yesterday, we saw all risk assets including crypto rally very strongly.
This took
Bitcoin
all the way back to reclaiming $65.5k, which is RIGHT below our major macro resistance sitting at $65.7k-$66k.
At the beginning of the week, I talked about the possibility of inflation data affecting short term price action and leading us to retest the major resistance above $65k, and that is exactly what happened.
We are now seeing some exhaustion from the buyers, as price failed to touch $65.7k. However, I wouldn’t be surprised if we see another push higher to test that level as we head into the weekend. But if we start to see a breakdown here, we could fall back to the 200EMA.
Keep a very close eye on price action as we head into the end of the week
$AKE
$BILL
$ALICE