Rising yields are putting pressure on $BTC right now.
If we lose the May high and close below it, that sets up the classic Q4 weakness pattern we've seen before. Honestly, the entire rally above May's high caught me off guard, so take what I'm saying here with a grain of salt.
Chart structure says one thing, but macro's screaming something else. Yields climbing usually means risk-off for Bitcoin. If we can't hold this level, the path of least resistance tilts lower into year-end. Not calling a crash, just saying the setup for typical late-year chop is forming if acceptance below that May pivot happens.
If we lose the May high and close below it, that sets up the classic Q4 weakness pattern we've seen before. Honestly, the entire rally above May's high caught me off guard, so take what I'm saying here with a grain of salt.
Chart structure says one thing, but macro's screaming something else. Yields climbing usually means risk-off for Bitcoin. If we can't hold this level, the path of least resistance tilts lower into year-end. Not calling a crash, just saying the setup for typical late-year chop is forming if acceptance below that May pivot happens.
