BitcoinShort
BTCUSD (1-23-2022) - H&S
Updated
Hello Followers,
Looks like BTC has broken below the neckline and is continuing it's downtrend.
With rising rates on the horizon, BTCUSD does not look like the inflation hedge many thought.
The below link also indicates volume decreasing as a rapid level, suggesting a multi-month bearish divergence.
https://www.dropbox.com/s/r9rxvkvb7h7gqmj/BTCUSD%20(1-8-2022).png?dl=0
We could see levels around 12k if the pattern plays out to it's full potential.
Look for Equities to also play a similar role in entering correction territory.
Stay safe and don't Over-Leverage!!
*Charts are my own views and opinions, not intended as investment advice*
Looks like BTC has broken below the neckline and is continuing it's downtrend.
With rising rates on the horizon, BTCUSD does not look like the inflation hedge many thought.
The below link also indicates volume decreasing as a rapid level, suggesting a multi-month bearish divergence.
https://www.dropbox.com/s/r9rxvkvb7h7gqmj/BTCUSD%20(1-8-2022).png?dl=0
We could see levels around 12k if the pattern plays out to it's full potential.
Look for Equities to also play a similar role in entering correction territory.
Stay safe and don't Over-Leverage!!
*Charts are my own views and opinions, not intended as investment advice*
Note
Update on the Fed Hiking Cycle, while I don't think they'll be 7 this year (maybe 4-5), I wouldn't underestimate 7-8 through June of next year (an additional 3-4 next year) to combat inflation. My outlook for this DXY below:
s3.tradingview.com/snapshots/f/FcFPG9IN.png
BTC Outlook for 2022 as you all know, eyeing the 12-10k levels:
s3.tradingview.com/snapshots/j/JXouoOsZ.png
Cheers, Stay Safe and Invest wisely!
Correlation Source: myfxbook.com & coincorrelation.com
(Disclosure: Correlations due tend to change over time)
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Charts are Not Investment Advice.
Charts are my own views & opinions.
(Disclosure: Correlations due tend to change over time)
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Charts are Not Investment Advice.
Charts are my own views & opinions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.