Challenge of 42 top again?

Greetings everybody,

So, as with massive coming of institutional investors to crypto market, they have brought their own "classical" rules of trading and role of different assets. BTC, for example, is treated as "inflation protection" and moves very accurately with 10-year interest rate. Thus, as tomorrow on NFP release we suspect jump in "hourly earnings" inflation - BTC also could challenge the previous top.

Besides, from pure technical view - once market doesn't want to go down (that was suggested by the price action in the beginning of the week), it means that it intends to go up...

评论:

Guys, as you can see - it is no need to change the picture as BTC shows quiet action and has shown no reaction on NFP numbers on Friday.

Thus, our setup stands the same by far. As dollar index is turning down again - it should support BTC and let it to re-test 42-42.50K top again.