UPDATE #BTC levels.. A break of 35.9k opens move to 34.5k looks like it could send it much lower toward a target near 26k-30k.
#Bitcoin support levels: 36,300 / 34,500 / 33,000 / 29,000 / 26,300
Bitcoin resistance levels: 38,800 / 39,250 / 40,000-40,200 / 45,800 / 50,000
The facts are: Bitcoin isn’t a good hedge against inflation when Fed is tightening. It’s not really leading into a favorable seasonality trend for end of Feb into March. Google search trends peaked in 2021.
USD strength = BTC sells off (most likely) / The mechanics of a credit unwind are essentially a short squeeze on the deflating (appreciating) fiat currency. What is the main denomination of Bitcoin? = USD
#Bitcoin support levels: 36,300 / 34,500 / 33,000 / 29,000 / 26,300
Bitcoin resistance levels: 38,800 / 39,250 / 40,000-40,200 / 45,800 / 50,000
The facts are: Bitcoin isn’t a good hedge against inflation when Fed is tightening. It’s not really leading into a favorable seasonality trend for end of Feb into March. Google search trends peaked in 2021.
USD strength = BTC sells off (most likely) / The mechanics of a credit unwind are essentially a short squeeze on the deflating (appreciating) fiat currency. What is the main denomination of Bitcoin? = USD
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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.