BitcoinShort
Bitcoin at Year Lows as Crypto Market DUMPS!! 🤯📉
The crypto market was absolutely annihilated last night as the APAC session sold off hard in reaction to the CPI print on Friday as well as their view of the Fed's reaction to it. Bitcoin smashed through the lower bound of our range at 27.9K. We had been holding this range for one month. We warned that Bitcoin holding a range for that long with such little buying interest was a likely sign we would dip further. However, we have smashed through our low from May 12th at 25.1K, finally finding support at 23.8K. If support fails here, the next level of support is at 20K, which is only $1000 from 19K, which we anticipate to be the low. Dedicated readers will remember us calling out this level back in January. We don't seem to see much buying interest but if there is a pivot, 25.1K should provide resistance.
Join my discord at discord.io/quantguy
Related publications
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.