Daily Bitcoin Update - Move lower as expected | ECB Hawkish

16 de dez. de 2022

Evening all,

Full TA in the video as usual. Some notes:

- Bitcoin clinging on to the lower trendline of the rising wedge we have identified.
- Look for support levels on a breakdown - $16919 is an important level
- The breakdown measure move is around $16374
- If we do break down past $16919 look for a bearish retest and a possible short opportunity
- Daily Indicators - Stoch RSI, RSI and MAC D looking bearish. If the MAC D crosses down we could see some strong movement down from Bitcoin.
- Major stock markets are all down today - SPX, ES1 and Nasdaq (the ones that we follow)
- USDT dominance increasing suggesting that traders are moving back into USDT
- DXY also on the move after testing major support - if the DXY increases, Bitcoin generally decreases
- Keep an eye on your alt positions. With BTCD increasing and BTC decreasing - Alts are getting REKT.

Be patient and stick to your strategy!

Please hit the boost button if you like this update.

Back tomorrow.

Thanks

SIMON BPOI