Bitcoin likely to test the lows again - $16000

7 Dis 2022

Morning all,

Full TA in the video as usual. Some notes:

- First breakdown has occurred
- looking for a bearish retest - a lot of resistance overhead
- Resistance confluence with fib levels and trendlines
- SPX selling off - rejected by the 200SMA and upper trendline. Traders selling and waiting for the FED meeting
- FED meeting 13-14th December
- US PPI Data coming this Friday
- Hawkish / Dovish not 100% sure at this stage
- News starting to turn bearish after a load of bullish hype
- I am expecting a test of the lows 16000 in the next few days and then the FED decision will decide the market
- Alts getting rekt with the drop in Bitcoin and the rise in Bitcoin Dominance
- Keep an eye on Bitcoin CME Futures. Currently facing tough resistance
- No trade at the moment. Look for a bearish retest of previous support or a break of this resistance.
- A break higher could signal a move to $18000


Be patient and stick to your strategy!

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Back tomorrow.