#Bitcoin The current situation is not too good. After the daily line formed a “pin” and closed, it continues to weaken. If the subsequent candles after Thursday and Friday cannot close above 79,000, then the overall daily trend will be a bit worrying.
As of now, macro positives are overly dependent on oil prices. Policy positives that have been fermenting since last week are gradually getting tired. There are only two factors that can drive the price higher:
First, oil prices quickly drop to below 85, even below 80, slowing inflation pressure and bringing macro positives.
Second, ETF net inflows provide support. If ETF net inflows start to fall below 300 million, it means buying momentum is weakening. Then there will be one less factor supporting a rise in price.
For the overall daily trend, I really hope it can rise a bit more. We’re currently at the “final step” just before the daily high—this is the point where a direct drop is completely different from a pullback after making a new high; it affects market confidence in a totally different way.
After a daily new high, a pullback will be more stable, and the bottom will very likely not break the new low. Market confidence would increase greatly. If the pullback fails to hold the daily new high, market confidence would be dealt a serious blow. Even the 58,000 new low may not necessarily become a valid low point. At least, this is what I see so far! #比特币64亿美元期权将到期
As of now, macro positives are overly dependent on oil prices. Policy positives that have been fermenting since last week are gradually getting tired. There are only two factors that can drive the price higher:
First, oil prices quickly drop to below 85, even below 80, slowing inflation pressure and bringing macro positives.
Second, ETF net inflows provide support. If ETF net inflows start to fall below 300 million, it means buying momentum is weakening. Then there will be one less factor supporting a rise in price.
For the overall daily trend, I really hope it can rise a bit more. We’re currently at the “final step” just before the daily high—this is the point where a direct drop is completely different from a pullback after making a new high; it affects market confidence in a totally different way.
After a daily new high, a pullback will be more stable, and the bottom will very likely not break the new low. Market confidence would increase greatly. If the pullback fails to hold the daily new high, market confidence would be dealt a serious blow. Even the 58,000 new low may not necessarily become a valid low point. At least, this is what I see so far! #比特币64亿美元期权将到期
