BTC - Minor Consolidation into the DropBitcoin will need to break up and out of the descending channel in order for
a reversal.
BTC has been well correlated to 10Yr Note Yields, it no longer is performing
to the prior Analogue.
Traders are closely watching $42K, the Gap could fill @ 32,600 into February
or March - Although the CLoud appears supportive until January 31, thereafter
Price may begin to decline once again.
It will be a process of grinding up Distribution after the Failure to close over our
Price objective $69,000.
With changes coming to Regulation in 2022 it will most certainly be an interesting
year ahead for BTC.
A Panic of sorts may be underlying the Trade over the next few months, the chart
structure on Lnnger duration timeframes is weakening.
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BTC would need to close over 50,635 in order to revere the Downtrend.
