BTC bull case,
Major trendline retest on the daily while in a overall uptrend. Since we have the FOMC meeting that is fundamentally looking at a rate hike, we might see BTC retest previous key levels around 28.1k for a liquidity search. This is the bull case, implying the retest is to aim back at higher prices (37.6k).
BTC bear case,
Although Blackrock's ETF is supporting this whole uptrend, we might still see consolidation around 25.5k for the big boys to come in and sweep up some liquidity. This case depends on the support of the darkened trend line supporting 61.8 buyers on the daily Fibonacci.
#fibonacci
#btcusd
#trendline
#technicalanalysis
#fundamentals
#jeromepowell
Major trendline retest on the daily while in a overall uptrend. Since we have the FOMC meeting that is fundamentally looking at a rate hike, we might see BTC retest previous key levels around 28.1k for a liquidity search. This is the bull case, implying the retest is to aim back at higher prices (37.6k).
BTC bear case,
Although Blackrock's ETF is supporting this whole uptrend, we might still see consolidation around 25.5k for the big boys to come in and sweep up some liquidity. This case depends on the support of the darkened trend line supporting 61.8 buyers on the daily Fibonacci.
#fibonacci
#btcusd
#trendline
#technicalanalysis
#fundamentals
#jeromepowell