BTC - Returned to the "Blue" Downtrend Channels
The question on everyone's mind is how long will it ride these blue channels, and where is the floor.
I've done some analysis looking at momentum via TSI and there appears to be some subtle but growing bullish divergence on momentum, but it highly depends on a few factors like 1.) the CPI report; any Fed speeches or press releases in reference to inflation or rates and; 3.) war on Russia of course.
If 2 out of 3 appear improved or more positive in the coming days, we might be able to build a floor in this range as a (weakly) higher low on the macro. That said, there is a range of support levels and targets I'm watching if we fall more, those are outlined in a separate analysis (link below).
I've done some analysis looking at momentum via TSI and there appears to be some subtle but growing bullish divergence on momentum, but it highly depends on a few factors like 1.) the CPI report; any Fed speeches or press releases in reference to inflation or rates and; 3.) war on Russia of course.
If 2 out of 3 appear improved or more positive in the coming days, we might be able to build a floor in this range as a (weakly) higher low on the macro. That said, there is a range of support levels and targets I'm watching if we fall more, those are outlined in a separate analysis (link below).
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