weak relief to the bulls

Morning folks,

As we've warned last time - BTC has to keep dropping because of fundamentals and cheating Fed action with its QT programme. Recent CPI numbers also stand not in favor of the bulls - now we could suggest 1% Fed change on next meeting. Thus, we're sceptic on any bullish performance right now. Based on technical picture we do not argue against minor bounce to 21.15-21.40 K area, but we do not see any fundamental changes and preparation for the shift of major trend. Thus, we do not consider any long positions by far.

If the pullback still happens, it should be good opportunity for taking new shorts here.