jamesSteakMoney

jamesSteakMoney

With US bond yields and the value of the dollar increasing last week, arguably this has taken its toll on crypto and tech stocks. If the price of bitcoin falls to the 40k region, this will have provided the well needed 30-40% correction everybody has been expecting since ATH was broke.

jamesSteakMoney

Price broke out of Head & shoulders bottom, and the monthly downtrend. Forecasting a shift in the overall trend. Although, Fed Chairman Powell speaks on Wednesday, which I assume is likely to have a negative impact on the dollar. In the short term (before Wednesday), I expect the price to reach the 106.2 region.

jamesSteakMoney

Price broke out of its daily downtrend yesterday and today, beginning to retest the 19k zone. Expecting price to reject this zone as previously, and retest the monthly trendline. if price closes below the monthly trendline we could see a fall to the $16,000 region, and maybe further.