17/07/23 Weekly outlook
Last weeks high: $ 31843.6
Last weeks low: $30858.7
Midpoint: $29873.8
Post CPI week and BTC finds itself back within the same local range despite some very positive news coming from the SEC VS Ripple case. Alts rallied upon the news but BTC was capped at 31.8K, still short of the 32.5k target.
I do believe that was bitcoins best chance to break above the range, the daily close on Friday 14th was a bearish engulfing and that is a worry for the bulls as all the progress from the SEC news got retraced and some...
This could be the start of bitcoin unwinding should we lose the range bottom around 29.5k, the target would be to fill the inefficiency FVG around 27k before another attempt at that local high.
Last weeks low: $30858.7
Midpoint: $29873.8
Post CPI week and BTC finds itself back within the same local range despite some very positive news coming from the SEC VS Ripple case. Alts rallied upon the news but BTC was capped at 31.8K, still short of the 32.5k target.
I do believe that was bitcoins best chance to break above the range, the daily close on Friday 14th was a bearish engulfing and that is a worry for the bulls as all the progress from the SEC news got retraced and some...
This could be the start of bitcoin unwinding should we lose the range bottom around 29.5k, the target would be to fill the inefficiency FVG around 27k before another attempt at that local high.
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