Saturday 24 June 2023

Bitcoin chasing dollar weakness

News that Blackrock have high odds to run a bitcoin spot ETF, sparked BTC higher.
image1

Maybe that was the catalyst to spark the bulls. Fundamentals had already shifted months before.

Lets look ...

Chart 1 - The lower US dollar and higher Chinese 10 yr have signaled for a while that bitcoin had room to move higher.


BTC 1





Chart 2 - Standard Wyckoff Accumulation story continues to build. A move to upper resistance would be health and shows the accumulation is still the head line story. 

BTC 2





Chart 3 - Bitcoin weaves it ways through support and resistance channels, like clock work.


BTC 3



Original Post: https://ift.tt/HRC7IPk

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