‼️ Market Update ‼️
We have no confirmation of any trend reversal yet for Bitcoin. We are just seeing dead cat bounces which have been ok for scalping, but Lower Highs and Lower Lows continue to form. A decent reaction from the Monthly Open ($62.1k area) which is a key support we do not want to break.
The last 4 hour candle closed above the DM VAL ($62.7k) which has been backtested as support on the current candle. If BTC can hold this support and flip the Prev Week Low at $64.5k then we may see our first High Low for a while.
Be careful today as we have FOMC this evening.
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