$BTC rejected the 79.4K range-high as inflationary risks rise.
The question now is: did Bitcoin indeed print another bearish range-deviation like we discussed not long ago?
With the FED highlighting inflation risk, 2Y/10Y treasury yields and DXY immediately reacted with a sharp move tot he upside.
This puts pressure on risk-assets, question is if this indeed ignited a bigger retracement.
The beautiful thing is that price respects the levels, no matter what news brought volatility to the market.
The 76.3K region could function as support and give long-opportunities to the range-high.
But as I stated multiple times, if we printed another deviation, looking for shorts makes sense due to the place in the range we're at.
If this becomes a bigger retracement, my first target will be a retest of the 72.8K mid-range region.
Next week will probably give more clarity about the current move, not opening positions during the weekend.
DYOR
$BTC
The question now is: did Bitcoin indeed print another bearish range-deviation like we discussed not long ago?
With the FED highlighting inflation risk, 2Y/10Y treasury yields and DXY immediately reacted with a sharp move tot he upside.
This puts pressure on risk-assets, question is if this indeed ignited a bigger retracement.
The beautiful thing is that price respects the levels, no matter what news brought volatility to the market.
The 76.3K region could function as support and give long-opportunities to the range-high.
But as I stated multiple times, if we printed another deviation, looking for shorts makes sense due to the place in the range we're at.
If this becomes a bigger retracement, my first target will be a retest of the 72.8K mid-range region.
Next week will probably give more clarity about the current move, not opening positions during the weekend.
DYOR
$BTC
