$UAI $BTR 🔥 $BTC Just Got Hit By A Macro Bombshell 🔥
The latest move in oil is making the BTC setup much more interesting.
US and Iran exchanged fresh strikes, and Brent crude is now around $95.40. Iran has also warned about further restrictions around the Strait of Hormuz, which is a major route for global oil shipments.
At the same time, the US 10Y yield jumped to 4.81%, its highest level in almost three years.
And markets are now pricing around a 67% chance of a September Fed hike, up sharply from about 40% a week ago.
This is why BTC is struggling around $77K-$78K.
For BTC, I'm watching the reaction now rather than trying to guess the next candle.
$77K-$77.2K is the key area.
If BTC holds it and gets back above $78K, I want to see $79K and then $80K.
But if $77K breaks with strong selling, I would not rush to buy the first dip. There could be another liquidity sweep lower before real buyers step in.
The interesting part is that BTC is still holding this area despite oil, yields and rate expectations all moving against risk assets.
That makes the next reaction very important.
Also keep Friday's US jobs report on the radar. If the data comes in weak, rate-hike expectations could cool. If it comes in hot while oil stays elevated, BTC could face another wave of pressure.
For me, $77K is the line to watch.
Hold it and bulls still have a chance.
Lose it and I wait for a better setup.
The latest move in oil is making the BTC setup much more interesting.
US and Iran exchanged fresh strikes, and Brent crude is now around $95.40. Iran has also warned about further restrictions around the Strait of Hormuz, which is a major route for global oil shipments.
At the same time, the US 10Y yield jumped to 4.81%, its highest level in almost three years.
And markets are now pricing around a 67% chance of a September Fed hike, up sharply from about 40% a week ago.
This is why BTC is struggling around $77K-$78K.
For BTC, I'm watching the reaction now rather than trying to guess the next candle.
$77K-$77.2K is the key area.
If BTC holds it and gets back above $78K, I want to see $79K and then $80K.
But if $77K breaks with strong selling, I would not rush to buy the first dip. There could be another liquidity sweep lower before real buyers step in.
The interesting part is that BTC is still holding this area despite oil, yields and rate expectations all moving against risk assets.
That makes the next reaction very important.
Also keep Friday's US jobs report on the radar. If the data comes in weak, rate-hike expectations could cool. If it comes in hot while oil stays elevated, BTC could face another wave of pressure.
For me, $77K is the line to watch.
Hold it and bulls still have a chance.
Lose it and I wait for a better setup.
