Bitcoin Big Picture Levels
UPDATE #BTC levels.. A break of 35.9k opens move to 34.5k looks like it could send it much lower toward a target near 26k-30k.
#Bitcoin support levels: 36,300 / 34,500 / 33,000 / 29,000 / 26,300
Bitcoin resistance levels: 38,800 / 39,250 / 40,000-40,200 / 45,800 / 50,000
The facts are: Bitcoin isn’t a good hedge against inflation when Fed is tightening. It’s not really leading into a favorable seasonality trend for end of Feb into March. Google search trends peaked in 2021.
USD strength = BTC sells off (most likely) / The mechanics of a credit unwind are essentially a short squeeze on the deflating (appreciating) fiat currency. What is the main denomination of Bitcoin? = USD
#Bitcoin support levels: 36,300 / 34,500 / 33,000 / 29,000 / 26,300
Bitcoin resistance levels: 38,800 / 39,250 / 40,000-40,200 / 45,800 / 50,000
The facts are: Bitcoin isn’t a good hedge against inflation when Fed is tightening. It’s not really leading into a favorable seasonality trend for end of Feb into March. Google search trends peaked in 2021.
USD strength = BTC sells off (most likely) / The mechanics of a credit unwind are essentially a short squeeze on the deflating (appreciating) fiat currency. What is the main denomination of Bitcoin? = USD
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