Morning folks,
It is a difficult choice today - what chart to show in the update because higher time frames are more important. Anyway, in two words - we think that downside continuation has more chances to happen this week. Taking in consideration how BTC has reacted on Fed minutes publication and that weaker NFP numbers were not able to support it, we suggest that we could get another drop, especially with coming CPI, PPI, and Retail Sales this week.
Thus, we suggest that it is not time for investing in BTC, taking long-term positions. Still, 10-year yields hit 1.8% of our predefined target, forming a bearish butterfly and we have two sessions until the PPI report, BTC could show minor bounce. The price action that we see on the 1H chart is hard to call "reliable", but, at least it has a relatively small risk. This is only for scalp traders who want to buy BTC. A minor pullback could happen here. Besides, this is the only pattern that we could extract from messy and choppy fluctuation by far... But with a high degree of certainty, this trade will be rather bumpy.
It is a difficult choice today - what chart to show in the update because higher time frames are more important. Anyway, in two words - we think that downside continuation has more chances to happen this week. Taking in consideration how BTC has reacted on Fed minutes publication and that weaker NFP numbers were not able to support it, we suggest that we could get another drop, especially with coming CPI, PPI, and Retail Sales this week.
Thus, we suggest that it is not time for investing in BTC, taking long-term positions. Still, 10-year yields hit 1.8% of our predefined target, forming a bearish butterfly and we have two sessions until the PPI report, BTC could show minor bounce. The price action that we see on the 1H chart is hard to call "reliable", but, at least it has a relatively small risk. This is only for scalp traders who want to buy BTC. A minor pullback could happen here. Besides, this is the only pattern that we could extract from messy and choppy fluctuation by far... But with a high degree of certainty, this trade will be rather bumpy.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。