SCENARIOS FOR BITCOIN MOVEMENT : ETF MEDIA HYPE IS A SHAM!
I am not in a haste to take a trade on this price action and neither should you, The current market profile of bitcoin which is a consolidation is a good opportunity to set your plan in other not to be on the losers side. This is my own plan
If price breaks below the price levels at which Blackrock files for spot ETF and holds below the level, then I am full bearish on Bitcoin and my next target would be 19k
If price does not do that, then I am still bullish on Bitcoin
Nevertheless, I am more conviced of the downside than of the Upside. Intermaket analysis with Dollar Index supports a bearish Bitcoin
Snapshot of the Intermarket Differences between Dollar and Bitcoin
https://www.tradingview.com/x/IKnVFg9T/
Keep this information beside you, the ETF media coverage is all a sham and meant to keep you off focus, the real deal is in the charts, look everywhere for clues for direction and Bias
If price breaks below the price levels at which Blackrock files for spot ETF and holds below the level, then I am full bearish on Bitcoin and my next target would be 19k
If price does not do that, then I am still bullish on Bitcoin
Nevertheless, I am more conviced of the downside than of the Upside. Intermaket analysis with Dollar Index supports a bearish Bitcoin
Snapshot of the Intermarket Differences between Dollar and Bitcoin
https://www.tradingview.com/x/IKnVFg9T/
Keep this information beside you, the ETF media coverage is all a sham and meant to keep you off focus, the real deal is in the charts, look everywhere for clues for direction and Bias
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