$BTC The 4-hour candle we were waiting to close this morning confirmed it at noon: it closed around 72,794
#CPITestsDecemberRateOutlook
CPI came in hot, with core at 0.3%. After the data, that morning spike hit 73,400.
At 10 a.m., it surged once more to 74,753, but that was just a 15-minute wick.
The 4-hour candle that closed at noon finished around 72,794, firmly below 73,477.
The trigger conditions I mentioned this morning are now all in place.
TP1 was hit too: the morning low reached around 72,643, breaking below the 200-day moving average at around 73,176.
Anyone who took partial profits at TP1 as planned has already locked in gains from this move.
Price is now around 73,320, caught between TP1 and the 73,477 trigger level.
My plan hasn’t changed: TP2 is still at 72,000, and the stop-loss remains above 74,000.
If a 4-hour candle closes back above 73,477, the downward momentum will have weakened for now, so don’t chase it.
This morning I asked whether U.S. stocks would follow the decline, and they did: the Nasdaq was down around 1.1%, the S&P 500 around 0.6%, and the Dow around 0.4%.
Nvidia was hit hardest, down around 5.9%; Micron fell around 2.9%, and SanDisk around 4.1%. All the memory stocks that rose yesterday gave back their gains today.
ETH is around 2,040, SOL around 82.7, and smaller coins are falling harder than Bitcoin.
75,000 is still the ceiling, but nobody’s talking about it anymore today.
Do you think the 72,000 level will hold tonight?
These are my personal views and not investment advice. Follow me for my first take after the data.
#CPITestsDecemberRateOutlook
CPI came in hot, with core at 0.3%. After the data, that morning spike hit 73,400.
At 10 a.m., it surged once more to 74,753, but that was just a 15-minute wick.
The 4-hour candle that closed at noon finished around 72,794, firmly below 73,477.
The trigger conditions I mentioned this morning are now all in place.
TP1 was hit too: the morning low reached around 72,643, breaking below the 200-day moving average at around 73,176.
Anyone who took partial profits at TP1 as planned has already locked in gains from this move.
Price is now around 73,320, caught between TP1 and the 73,477 trigger level.
My plan hasn’t changed: TP2 is still at 72,000, and the stop-loss remains above 74,000.
If a 4-hour candle closes back above 73,477, the downward momentum will have weakened for now, so don’t chase it.
This morning I asked whether U.S. stocks would follow the decline, and they did: the Nasdaq was down around 1.1%, the S&P 500 around 0.6%, and the Dow around 0.4%.
Nvidia was hit hardest, down around 5.9%; Micron fell around 2.9%, and SanDisk around 4.1%. All the memory stocks that rose yesterday gave back their gains today.
ETH is around 2,040, SOL around 82.7, and smaller coins are falling harder than Bitcoin.
75,000 is still the ceiling, but nobody’s talking about it anymore today.
Do you think the 72,000 level will hold tonight?
These are my personal views and not investment advice. Follow me for my first take after the data.
